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Farid Farhoumand Of Next Financial Group, Inc. still registered Has 13 Customer Complaints For Alleged Broker Misconduct

Who is Farid Farhoumand of Next Financial Group, Inc.?

Farid Farhoumand (CRD #727764) who is currently registered with Next Financial Group, Inc. and located in Fort Wayne, Indiana is a subject of one of our many securities industry sales practice abuse investigations.  Prior to Next Financial Group, Inc., Farid Farhoumand was associated with other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Farid Farhoumand Customer Complaints

Farid Farhoumand has been the subject of 13 customer complaints that we know about to recover investment losses.  Four of Farid Farhoumand customer complaints resulted in Awards in favor of investors. Nine of Farid Farhoumand customer complaints were denied and, to date, the customers have not taken any further action. 

Allegations Against Farid Farhoumand

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Unsuitable investment recommendation of a variable annuity
  • Unsuitable investment recommendations of illiquid investments
  • Unsuitable recommendations of 3 variable annuities in the client’s accounts
  • Misrepresentations and unsuitable speculative investment recommendations
  • Misrepresentation of risks associated with business development companies
  • Failure to disclose the risks and rewards, fees and other expenses pertaining to a variable annuity contract
  • Failure to disclose surrender charges of the variable annuity
  • Misrepresentation of the risk and fees related to variable annuity investment
  • Misleading statements related to advisory fees to be charged on his third-party managed account
  • Failure to disclose surrender penalties related to variable annuity investment

Farid Farhoumand Red Flags & Your Rights As An Investor

Of course, Farid Farhoumand did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Farid Farhoumand at Next Financial Group, Inc. on alert to review carefully the activity and performance of their accounts and question whether Farid Farhoumand has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Next Financial Group, Inc. also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Next Financial Group, Inc. Due To Farid Farhoumand

If you have questions about Next Financial Group, Inc. and/or Farid Farhoumand and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

Author Photo

Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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