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Benny Ongkobudidjojo: TransAmerica Advisor Lands $225K Complaint

Houston financial advisor Benny Ongkobudidjojo (CRD# 5668611) recently received an investor complaint alleging that his advice resulted in damages exceeding $200,000. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with TransAmerica Financial Advisors.

Mr. Ongkobudidjojo’s BrokerCheck report discloses one investor complaint. Filed in November 2023, it alleges that as a representative of TransAmerica Financial Advisors, he recommended unsuitable variable annuity investments. The pending complaint alleges damages of $225,000.

Investors should be aware that securities industry rules and standards require brokers like Mr. Ongkobudidjojo to recommend investments and investment strategies that meet a standard known as suitability. FINRA Rule 2111, for instance, states that brokers must “have a reasonable basis to believe that a recommended transaction or investment strategy” is suitable for a customer’s investment profile, including their age, investment background, net worth, financial situation, risk tolerance, investment goals, and other concerns. Brokers who recommend unsuitable investments or strategies may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, Benny Ongkobudidjojo holds 14 years of securities industry experience. Based in Houston, Texas, he has been registered as a broker and an investment advisor with TransAmerica Financial Advisors since 2012. His past registrations include Investment Advisors International (Houston, Texas; 2011-2012) and World Group Securities (Houston, Texas; 2009-2012). His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, Colorado, Florida, Illinois, Louisiana, Maryland, and Texas. (Information current as of June 22, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation

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