Raj Budwal: Did His Recommendations Lead to $100,000 Loss?
Raj Budwal (CRD #: 2418007), a broker registered with Sagepoint Financial, is involved in an investor dispute, according to his BrokerCheck record, accessed on September 29, 2021. This is the second investor dispute on his record. Investors should note that they may have engaged Raj Budwal’s services through Budwal & Associates.
On July 8, 2021, investors alleged that Raj Budwal recommended an unsuitable investment. FINRA requires that brokers only recommend suitable investments. The investor is seeking $100,001; the dispute is pending.
FINRA Rule 2111 defines suitable investments as investments that fit an investor’s risk tolerance, investment time horizon, financial goals, investing experience, and age. Brokers have access to this information through the investor’s profile.
- Investments can be unsuitable because they are high risk and likely to lose money.
- Securities may also be unsuitable because they are illiquid, meaning that they are meant to be held for an extended period of time and may be costly to cash out.
- Securities must also be quantitatively suitable, meaning that brokers executed an excessive number of trades.
- These requirements apply to the overall investment strategy as well as the investments themselves.
Raj Budwal Background Information
Raj Budwal has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 6 Investment Company Products/ Variable Contracts Representative Examination
- Series 24 General Securities Principal Examination
- Series 51 Municipal Fund Securities Principal Examination
- Series 26 Investment Company Products/ Variable Contracts Principal Examination
He is a registered broker in 17 states and is a registered investment adviser in California, Massachusetts, Nebraska, and Texas.
Raj Budwal has worked with the following firms:
- Sagepoint Financial (CRD #: 133763)
- SunAmerica Securities (CRD #: 20068)
- WMA Securities (CRD #: 32625)
- Intersecurities (CRD #: 16164)
Kurta Law Can Help
If you worked with Raj Budwal and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email firstname.lastname@example.org.