Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on July 27, 2016 indicate that former Florida-based Invest Financial Corporation broker William Byrd has received resolved or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. (CRD# 1334634).
William Byrd has spent 31 years in the securities industry and was most recently registered with Invest Financial Corporation in Tampa, Florida (2016). Previous registrations include TransAmerica Financial Advisors in Tampa, Florida (2001-2016); Pruco Securities Corporation in Newark, New Jersey (1992-2001); Merrill Lynch Pierce Fenner & Smith in New York, New York (1990-1992); American Express Financial Advisors in Minneapolis, Minnesota (1988-1990); IDS Life Insurance Company in Minneapolis (1988-1990); Cigna Securities (1987-1988); and Security First Financial (1985-1987). He is currently not registered with any state or firm.
According to his BrokerCheck report, William Byrd has received one customer complaint one pending customer complaint, and one denied customer complaint.
In May 2016, a customer alleged William Byrd, while employed at Transamerica Financial Advisors, made unsuitable investment recommendations, breached his fiduciary duty, and misrepresented material facts related to an investment. The customer is seeking $65,000 in damages in the pending complaint.
In 2014, a customer alleged William Byrd, while employed at Transamerica Financial Advisors, made unsuitable investment recommendations. The customer sought more than $111,000 in the complaint, which was denied.
In 2014, a customer alleged William Byrd, while employed at Transamerica Financial Advisors, unsuitably recommended investments in equity products and mutual funds. The complaint settled in December 2015 for $83,500, to which Mr. Byrd individually contributed $10,000.
Federal securities law stipulates that investment professionals like William Byrd may not make untrue or false statements that can mislead their clients, which is referred to as “misrepresentation.” They are similarly prohibited from omitting material facts regarding an investment, or the effect that an investment could have on the client’s finances. A “material fact” is a piece of information that would be a significant consideration for a reasonable investor in making a decision about an investment. Some examples include the risk level of a stock, the potential return on an investment, or the fees involved with the transaction. Brokers and investment advisers who misrepresent material facts may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you or someone you know has lost money investing with William Byrd, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.