William Baumner (CRD #2298690), a broker with Tradespot Markets Incorporated, is currently involved in investor disputes regarding unsuitable investment recommendations, breach of regulatory requirements, negligence, breach of fiduciary duty, gross negligence, breach of contract, failure to disclose risks, high pressure sales, manipulation, and insider trading, according to his BrokerCheck record accessed on August 17, 2020. William Baumner has also been involved in disputes involving unsuitable recommendations. Do you have questions about William Baumner’s conduct as a broker? Read on to learn more.
On May 18, 2020, William Baumner was the subject of an investor dispute in which a customer alleged that William Baumner made unsuitable investment recommendations, breached regulatory requirements, breached his contractual and fiduciary duties, and was negligent. The client is seeking $50,000 in damages; the dispute is pending. In the comment section of his BrokerCheck report William Baumner stated that “The Client’s allegations are totally lacking in merit.”
On May 18, 2020, a client alleged that William Baumner made unsuitable investment recommendations, breached regulatory requirements, breached contractual and fiduciary requirements, and committed gross negligence. The client is seeking $67,000 in damages; the dispute is pending.
On March 23, 2019, a client alleged that William Baumner had made unsuitable investments, failed to disclose risks, and engaged in high-pressure sales. The client is seeking $100,000 in damages; the dispute is pending.
On November 22, 2013, a client alleged that William Baumner had engaged in manipulation and insider training. They also alleged William Baumner had breached his fiduciary duty.
For more information on a stock broker’s fiduciary duties, see our page “Is My Financial Advisor a Fiduciary?
William Baumner has also been involved in a number of disputes over unsuitable recommendations:

  1. On September 4, 2018, a client alleged that William Baumner had made an unsuitable private placement in 2010. The matter settled for $15,000.
  2. On July 19, 2018, a client alleged that William Baumner had made unsuitable investment recommendations. The client sought $5,000 in damages; the dispute settled for $15,000.
  3. On September 9, 2017, a client alleged that William Baumner had made unsuitable investment recommendations. The client sought $9,700 in damages; the dispute settled for $9,831.
  4. On March 11, 2014, a client alleged that William Baumner had made unsuitable investment recommendations. The client sought $350,000 in damages; the dispute settled for $15,000.
  5. On September 20, 2012, a client alleged that William Baumner had made unsuitable investment recommendations. The client sought $100,000 in damages; the dispute settled for $34,625.
  6. On May 5, 2009, a client alleged that William Baumner had made unsuitable investment recommendations and sought $100,000 in a multi-respondent action; the dispute settled for $70,000.

These are not the only disclosures on William Baumner’s BrokerCheck Record.
William Baumner was discharged from Buchman Buchman & Reid after the firm alleged he did not follow firm policy on email correspondences with clients. In the Broker Comment section of his BrokerRecord, William Baumner asserted that, “I was terminated from Buckman Buckman and Reid very abruptly one day by the compliance director for communicating with a person that had invested in a private placement with Buckman Buckman and Reid (of which I did not get compensated on) but he was a friend of a friend and was threatening physical and legal action against members of the firm and I was trying to pacify and calm him down.”
On May 19, 1998, William Baumner settled a dispute with a customer who alleged he failed to follow instructions. The claim was settled for $28,000.
William Baumner has passed the Series 66 Uniform Combined State Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Essentials Examination, and the Series 7 General Securities Representative Examination. He is a registered broker in Florida.
William Baumner has worked in the securities industry for over two decades. In the course of his 25-year career, he has worked for the following brokerage firms:

  • Buckman, Buckman & Reid, Incorporated (CRD#: 23407)
  • Invest Financial Corporation (CRD#: 12984)
  • Mutual Service Corporation (CRD#: 4806)
  • Investors Capital Advisory (CRD:# 30613)
  • Jefferson Pilot Securities Corporation (CRD#: 3870)
  • Noble International Investments, Incorporated (CRD #: 15768)
  • Chatfield Dean & Co., Incorporated (CRD#: 14714)

If William Baumner was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email info@fkesq.com for your free case consultation with a securities attorney.