Kambiz Ghazanfari Allegedly Recommended an Unsuitable Variable Annuity

Kambiz Ghazanfari (CRD #: 3050671), a previously registered broker with Ameriprise, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on March 11, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Dispute

On February 13, 2024, an investor alleged that Kambiz Ghazanfari recommended variable annuities that were unsuitable. The investor further alleged that the advisor made representations that were inaccurate and/or misleading. 

Variable Annuities 

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying securities. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Background Information 

Kambiz Ghazanfari 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 31 Futures Managed Funds Examination 
• Series 7 General Securities Representative Examination 
• Series 52 Municipal Securities Representative Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination 

Kurta Law Can Help 

If you have worked with Kambiz Ghazanfari and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.