Reza Hamid Taraz, Broker with Ameriprise Financial Services, Named in Customer Dispute Alleging Unsuitable Recommendations

INVESTORS: Ameriprise Financial Services broker Reza Hamid Taraz was named in customer dispute alleging unsuitable investment recommendations.

Reza Hamid Taraz (CRD: 4079866) is registered as a broker and investment adviser with Ameriprise Financial Services, where he’s been employed since 2000. Taraz was previously registered as a broker with IDS Life Insurance Company from 2000 until 2006.

Taraz has three disclosures on his BrokerCheck report. One customer dispute filed against Taraz was denied and one was closed with no action taken.

February 2022 Customer Dispute

Status: Pending

Allegations: In December 2020, Claimants allege advisor recommended RiverSource VUL 6 Life Insurance Policy which was unsuitable and without full disclosure or explanation of all the fees associated with this product. Claimants allege unsuitability, omission, breach of fiduciary duty, breach of FINRA rules, failure to supervise, violation of SEC Regulation Best Interest (Reg BI) and seek damages in the amount of $49,900

Damage Amount Requested: $49,900.00

The Sonn Law Group is currently investigating allegations surrounding Reza Hamid Taraz. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.