Investor Alleges Kaled Khaznehkatbi Recommended Unsuitable Annuity Surrender

Kaled Khaznehkatbi (CRD #: 5726875), a broker registered with Royal Alliance Associates, is the subject of a pending dispute, according to his BrokerCheck record, accessed on June 1, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On March 14, 2023, an investor alleged that Kaled Khaznehkatbi chose to surrender the client’s annuity and reinvest the funds with an investment advisor, and that these decisions were not appropriate. The client seeks $146,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must use the information in an investor’s profile, such as their risk tolerance, age, and tax status when making recommendations.

These requirements apply to a broker’s overall investment strategy as well as the investments themselves. For example, overconcentration in a single stock or sector may expose the client to an unsuitable degree of risk.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

Background Information

Kaled Khaznehkatbi has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Kaled Khaznehkatbi is a registered broker in eight states and the District of Columbia. He is also a registered investment adviser in California, Michigan, and the District of Columbia.

He has also worked for Signator Investors (CRD#:468).

Kurta Law Can Help

If you worked with Kaled Khaznehkatbi and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.