Transamerica Financial Advisors, Inc. is an independent broker-dealer and registered investment advisor. Since 1969, Transamerica Financial Advisors has been a full-service company selling products through related entities as an AEGON company,
A securities brokerage firm licensed by FINRA, Transamerica Financial Advisors, Inc. has a legal duty to supervise its brokers and its brokers' recommendations to clients to ensure compliance with and prevent violations of the rules of the security industry. When an individual broker is negligent or acts in an unlawful manner against the interests of the client and that client suffers damages as a result of such wrongdoing, the firm may be held liable for the investor's losses.
Potential Fraud & Misconduct Claims Against Transamerica Financial Advisors
Transamerica, like any other registered broker-dealer firm, is subject to financial industry oversight and can be cited, fined, forced to pay restitution and otherwise penalized by regulators like FINRA and the SEC. Some of the most common claims against investment firms like Transamerica and their registered financial advisors/brokers include failure to supervise and unsuitability.
A claim like failure to supervise means that the broker and/or the brokerage firm didn't do their job. Financial advisors are required by law to adequately supervise their investors' accounts. Broker firms are also required by law to supervise the goings-on through their firm and their registered brokers. When either party fails to adequately supervise, it is easier for misconduct to happen. When misconduct happens, investors usually sustain substantial financial losses.
Another common investor claim against broker-dealer firms is unsuitability. Sometimes, brokers will make suggestions to their clients about investments simply because they will get a commission for a successful sale, paying no attention to whether or not the investment is actually suitable for the investor. Unsuitable investments are risky at best, and cause the investor to lose part or all of their assets.
If you believe that a Transamerica broker is guilty of some type of misconduct, you can search their investment history by using FINRA's broker check tool.
Recover Your Losses Against Transamerica Financial Advisors
TransAmerica Financial Advisors are required to serve the interests of clients honestly—when this isn’t the case, Meyer Wilson attorneys have the relentless determination and insight to successfully conduct claims against TransAmerica. Our investment loss lawyers’ skill and experience in federal and state courtrooms and arbitration hearings has allowed our firm to reclaim $350 million in lost assets for our clients, and hundreds of millions more in our recent history. We represent clients nationwide in court and arbitration with FINRA, AAA, and private arbitration. Our securities fraud attorneys even represent international clients against brokerage firms based in the United States, licensed by FINRA.
If you have suffered losses in excess of $75,000, contact the investment lawyers at Meyer Wilson. Complete our online form or call us for a free consultation to learn your options.