Kirk Badii, of Los Angeles, California, a stockbroker formerly registered with UBS Financial Services Inc., is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $3,000,000.00 in damages supported by accusations of mismanagement and unsuitable recommendations concerning alternative investments while Badii was associated with UBS Financial Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-03080 (December 27, 2021). According to the claim, the customer was not made aware of the risks of alternative investments, and unauthorized trades were made by Badii.
FINRA Public Disclosure shows that Badii has been identified in five additional customer initiated investment related disputes containing allegations of Badii’s harmful activities during the period that he was associated with securities broker dealers, including UBS Financial Services. Badii is identified in a customer initiated investment related written complaint on August 19, 2019, where the customer sought compensatory damages based upon accusations of unauthorized trading.
On January 7, 2020, another customer filed an investment related complaint regarding Badii’s activities in which the customer requested compensatory damages founded on allegations of Badii failing to clarify what he was doing with the customer’s investments. The complaint alleges that Badii invested the customer’s money in a hedge fund contrary to the customer’s wishes.
Badii is also the subject of a customer initiated investment related written complaint on April 13, 2020, where the customer sought compensatory damages supported by accusations of unsuitable REIT transactions given the investment’s illiquidity and the customer’s age.
On April 17, 2020, a different customer filed an investment related complaint concerning Badii’s conduct in which the customer requested $2,600,000.00 in damages based upon allegations of Badii placing the customer in illiquid alternative investments prior to educating the customer on the risks. The complaint alleges that the customer sustained losses on unsuitable alternative investments between July of 2015 and August of 2018.
On October 21, 2020, an additional customer initiated investment related arbitration claim involving Badii’s conduct was resolved for $475,000.00 in damages founded on accusations of unsuitable private equity funds recommended by Badii between September of 2016 and August of 2018 at UBS Financial Services. FINRA Arbitration No. 19-00701.
Badii was discharged by UBS Financial Services on August 7, 2018, supported by allegations of him violating policy relating to the onboarding of customers. He was employed by Cantella Co. between September 4, 2018, and February 14, 2020. Since January 23, 2020, Badii has been registered with Independent Financial Group LLC as a stockbroker and investment adviser representative.