Capital Financial Services Financial Advisor, William Byrd, Has Five Customer Complaints Alleging Sales Practice Misconduct
William Dean Byrd (CRD 1334634) is a Financial Advisor at Capital Financial Services, Inc. in Tampa, FL. William Byrd has been in the securities industry since 1985 and previously worked at Invest Financial Corporation, TransAmerica Financial Advisors, PRUCO Securities, Merrill Lynch, American Express, IDS, Cigna and Security First Financial.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), since 2014, William Byrd has been the subject of five customer complaints alleging the following:
- March 2019 – “Claimant Alleges That They Were Sold Unsuitable Concentrated Mutual Fund Transactions And Production, Lacking Any Reasonable Investment Strategy, Designed Solely to Maximize Commissions.” The customer alleges $300,000 in damages, and the matter is currently pending.
- January 2017 – “Claimant alleges representative made unsuitable investments ignoring claimant’s changing circumstances. Claimant further alleges the representative made material misrepresentations regarding the recommended investments.” The matter settled for $42,000.
- June 2016 – “Claimant alleged the rep made unsuitable recommendations, misrepresented investments and breached his fiduciary duty.” The matter settled for $42,500.
- October 2014 – “THE CLIENT’S HAVE ALLEGED MR. BYRD MADE UNSUITABLE RECOMMENDATIONS WHICH RESULTED IN INVESTMENT LOSSES. THE ALLEGED ACTIVITY PERIOD OCCURRED AUGUST 2010 UNTIL SETTLEMENT, DECEMBER 7, 2015.” The matter setted for $83,500.
For a copy of William Byrd’s CRD, click https://brokercheck.finra.org/individual/summary/1334634.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at firstname.lastname@example.org.
- Former West Park Capital, Inc. and Laidlaw & Company LTD Broker, Bryan Mazliach, Investigated By FINRA For Alleged Violation Of FINRA Rules
- Former BMO Harris Financial Advisors, Inc. Broker, Lori Ann Sacco, Suspended Six Months By FINRA For Allegedly Altering Customer Account Documents
- Former Woodbury Financial Services, Inc. Broker, Jodie Lane, Suspended Six Months By FINRA For Allegedly Accepting Gifts And Becoming Beneficiary Of A Client
- Broker, Kimberley Schkade-Hill, Supsended by FINRA For Four Months And Fined $10,000 For Allegedly Having Clients Sign Documents In Blank
- LPL Financial LLC Broker, Matthew Clason, Is The Subject Of An SEC Enforcement Action For Allegedly Stealing Hundreds Of Thousands Of Dollars From A Client
- Former Capitol Securities Management Inc. Broker, Michael Rubel, Suspended By FINRA For 45 Days For Allegedly Engaging In Short-term Trading Of Unit Investment Trusts
- Recovering Your Investment Losses In Non-Traded Real Estate Investment Trusts And Business Development Companies
- Former Westpark Capital, Inc. Broker, Hary Datys, Suspended By FINRA For Fifteen Months For Allegedly Failing To Conduct Due Diligence Before Selling Promissory Notes
- Former Ameriprise Financial Services, LLC Advisor, Arthur Hoffman, Barred By FINRA For Allegedly Failing To Provide Documents In Relation To Investigation Into Outside Business Activities
- Crown Capital Securities Broker, Kenneth Barroga, Has Had Four Customer Complaint Disclosures