Sid Bindra: Suitability Complaints Against Truist Advisor

Tampa, Florida financial advisor Sid Bindra (CRD# 6147537) has received multiple investor complaints alleging that his conduct resulted in damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Truist Investments and an investment advisor with Truist Advisory Services, having previously been registered with BB&T Securities.

Mr. Bindra’s BrokerCheck report discloses three investor complaints. The most recent, filed in February 2024, alleged that as a representative of Truist Investment Services, he recommended an unsuitable investment in a zero-coupon structured product. The complaint reached a settlement of $31,860.

A second investor complaint, filed in 2023, alleged that as a representative of Truist Investment Services, he misrepresented material facts relating to an investment in a structured product. The complaint reached a settlement of $14,954.

A third investor complaint, filed in 2017, alleged that as a representative of UBS Financial Services, he over-concentrated “unsuitable and risky investments” in the customers’ accounts. In 2018 the complaint reached a settlement of $92,500.

According to the Financial Industry Regulatory Authority, Sid Bindra holds 11 years of securities industry experience. Based in Tampa, Florida, he has been registered as a broker with Truist Investments and an investment advisor with Truist Advisory Services since 2021. His past registrations include BB&T Securities (Richmond, Virginia; 2018-2021), BB&T Investment Services (Arlington, Virginia; 2017-2018), UBS Financial Services (Annapolis, Maryland; 2015-2017), and Morgan Stanley (Annapolis, Maryland; 2013-2015). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He holds 25 state licenses. (Information current as of June 16, 2024.)

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