Who Is William Charles Burks? | Centaurus Financial Investigation
William Burks is a Flower Mound, Texas broker. Burks is currently registered with Centaurus Financial and was previously registered with PFS Investments. Burks currently has 8 Brokercheck Disclosures, including a pending Customer Dispute for “unsuitable investments” and breach of fiduciary duty.
Peiffer Wolf Carr Kane & Conway is currently investigating claims against William Burks, a registered broker at Centaurus Financial in Flower Mound, TX.
According to FINRA’s BrokerCheck website for Public Disclosures, William Burks has been the subject of eight disclosures. Some of the more notable disclosures are as follows:
July 2021: Customer Dispute – Settled. Allegations include: “The customer alleges that the Registered Representative recommended illiquid investments and breached his fiduciary duty.”
June 2021: Customer Dispute – Pending. Amount requested:$650,000.00. Allegations include: “The customer alleges that the Registered Representative over concentrated the customer’s account(s) in unsuitable investments.”
February 2021: 2 Customer Disputes – Pending. Allegations include: “Registered Representative misrepresented investments and that the investments have not performed as anticipated” and “Registered Representative recommended unsuitable and high-risk investments.”
May 2018: Customer Dispute – Settled. Allegations include: “Registered Representative misrepresented unsuitable investments and breached his fiduciary duty.”
2011: Customer Dispute – Settled. “CLIENT ALLEGES THAT THE INVESTMENT STRATEGY RECOMMENDED BY THE REPRESENTATIVE IN 2011 WAS INAPPROPRIATE.”
2012: Customer Dispute – Settled for $40,000. “CLIENTS ALLEGE MULTIPLE ISSUES WITH THE HANDLING OF THEIR ACCOUNT, INCLUDING ALLEGED ACTIONS/TRANSACTIONS WITHOUT THEIR KNOWLEDGE. THE CLIENTS ALSO ALLEGE THAT SIGNATURES ON CERTAIN DOCUMENTS ARE NOT THEIR’S.”
2018: Pending Customer Dispute – Damages Requested: $415,000. “Beginning in or around the mid-2000’s, through 2018, the customers allege that the Registered Representative misrepresented unsuitable investments and breached his fiduciary duty.”
Since 2010, customer complaints disclosed against William Burks have included allegations of “unsuitable investments,” failure to disclose “features of liquidity and surrender charges,” “actions/transactions without their knowledge,” allegations that “signatures on certain documents are not theirs,” “undisclosed tax consequences, fees, and investment movements,” “misrepresentation,” and that Burks “breached his fiduciary duty.”
Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their individual clients. Their broker-dealer (employing brokerage firm) has a legal obligation and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
FINRA maintains a database of investor complaints and disciplinary and employment history for registered representatives and publishes some of this information on its BrokerCheck website, www.brokercheck.finra.org.
William Burks Broker | William Burks Broker Lawsuit
Peiffer Wolf Carr Kane & Conway is currently investigating William Burks’ practices, as well as the products he recommended to individual investors. Concerns about possible broker misconduct and investment fraud are serious, and we are committed to fighting on behalf of investors. Contact Us Today for a FREE Consultation. 585-310-5140
FREE Consultation | 585-310-5140
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf Carr Kane & Conway has represented thousands of victims, and we remain committed to fighting on behalf of investors.
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