Moe Azizi Allegedly Recommended Unsuitable Investments

Moe Azizi (CRD #: 2154719), a broker registered with Centaurus Financial, is the subject of a six-figure dispute. This disclosure appears on his BrokerCheck record, accessed on October 23, 2023. Keep reading for more information. 

On August 28, 2023, an investor alleged that Moe Azizi recommended an unsuitable, high-risk, speculative, and illiquid investment. They further alleged he breached his fiduciary duty. The investor is seeking $100,000. 

There are two previous disputes alleging Moe Azizi recommended unsuitable, high-risk investments. These disputes were collectively settled for $40,000. 

FINRA Rule 2111 – Unsuitable Long-Term 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. Brokers must also consider the investment time horizon and the investor’s liquidity needs – long-term investments often do not suit a client’s best interests. Investments that do not take these factors into account may be unsuitable. 

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Fiduciary Duties

Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.) 

Background Information 

Moe Azizi has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 24 General Securities Principal Examination 

He is a registered broker in 10 states and D.C. He is also a registered investment adviser in California and Florida. 

During his 32 years of experience, Moe Azizi has registered with eight firms: 

• Centaurus Financial (CRD #: 30833) 
• Cetera Investment Advisers (CRD #: 105644) 
• Summit Brokerage Services (CRD #: 34643) 
• JP Turner & Company (CRD #: 43177) 
• JP Turner & Company Capital Management (CRD #: 124446) 
• Global Capital Securities Corporation (CRD #: 16184) 
• Kober Financial Corp. (CRD #: 17551) 
• J.W. Gant & Associates (CRD #: 7963) 

Kurta Law Can Help

If you worked with Moe Azizi and 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 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.