Bibi Razack: Osaic Advisor Received Suitability Complaint

A recent, denied investor complaint against Ridgewood, New York financial advisor Bibi Razack (CRD# 3094072) alleged that she recommended unsuitable products. Financial Industry Regulatory Authority records show that she is registered as a broker and an investment advisor with Osaic Wealth, doing business as Bibi Razack Wealth Management.

Ms. Razack’s BrokerCheck report discloses one investor complaint. Filed in September 2026, it alleged that as a representative of Osaic Wealth, she “poorly recommended” an unsuitable investment in structured notes. The complaint alleged damages of at least $5,000 and was denied by the firm.

In a statement included with the complaint’s disclosure, Ms. Razack responded to the allegations. “Contrary to client’s allegations, client had full understanding of product and a long history of investing in structured investments,” she wrote. “The complaint was denied in full.”

An unsuitable investment, as described by FINRA Rule 2111, is an investment or strategy which a broker lacks a reasonable basis to believe is appropriate for their customer’s investment profile. An investor’s profile “includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance,” and other information. FINRA-associated brokers are required by Rule 2111 to conduct reasonable diligence to determine a customer’s profile; then, they must use this information to arrive at a determination as to whether an investment or strategy is not only suitable for some customers, but for that specific customer. Brokers who sell unsuitable investments, or who misrepresent information regarding an investment’s suitability, may be liable to their clients if those investments experience losses.

According to the Financial Industry Regulatory Authority, Bibi Razack holds 28 years of securities industry experience. Based in Ridgewood, New York, she has been registered as a broker and an investment advisor with Osaic Wealth since 2024, doing business as Bibi Razack Wealth Management. Her past registrations include Woodbury Financial Services, Capital One Advisors, Capital One Investing, Greenpoint Securities, and Essex National Securities. Her credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; and the Uniform Securities Agent State Law Examination, or Series 63. She holds 12 state licenses. (Information current as of November 1, 2026.)

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