William Young (CRD #: 4787488), a broker registered with Kingswood Capital Partners in Rockville, Maryland, is involved in a dispute regarding risky investments, according to his BrokerCheck record, accessed on February 22, 2021.
On January 28, 2021, investors alleged that William Young misrepresented risks associated with two types of risky investments: Real estate investments trusts (REITS) and business development companies (BDCs). Because these investments are speculative, they are only suitable for wealthy investors who have a high degree of risk tolerance. The investors are seeking $123,000; the dispute is pending.
There are other disputes that reference risky investments. On October 1, 2020, investors alleged that William Young recommended unsuitable investments, including REITs and unit investment trusts (UITs). The investors sought $5,000, but the dispute was denied by the firm. Investors take note: Just because a firm denies a dispute does not mean that the representative did not engage in any financial misconduct. It means that the matter would need to enter FINRA arbitration for the investor to recover their losses.
On December 10, 2018, an investor alleged that William Young over-concentrated their portfolio in high-risk REITs and energy investments that came with high commissions, in spite of the client’s goal to preserve their capital. The investor sought $300,000; the dispute settled for $24,000.
On September 4, 2017, William Young became the subject of a tax lien for $6,452.90.
Alleged Violations of Firm Policies
On December 11, 2009, William Young entered into an Acceptance, Waiver, and Consent agreement (AWC) with FINRA in which he consented to the findings that he falsely stated on an annual compliance questionnaire that he had disclosed all outside brokerage accounts. FINRA alleged that Young maintained personal securities accounts at another broker-dealer without having notified his member firm in writing. He also allegedly failed to inform the executing broker-dealer that he was associated with another member firm. This is a violation of FINRA Rule 3210. As part of the terms of the AWC, Young consented to a fine of $5,000 and a 30-day suspension. You can read a copy of the AWC here.
On November 16, 2009, William Young was permitted to resign from United Brokerage Services following allegations that he had violated firm policy and procedures.
William Young has passed the Series 66 Uniform Combined State Law Examination, the Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination. He is a registered broker in California, D.C. Florida, Georgia, Maryland, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas, Virginia, West Virginia, and Wisconsin. He is a registered investment adviser in Maryland.
William Young has worked in the securities industry for 16 years. During that time, he has registered at the following firms:
- Kingswood Capital Partners (CRD #: 288898)
- Kingswood Wealth Advisors (CRD #: 288792)
- Niagara International Capital Limited (CRD #: 135327)
- H. Beck (CRD #: 1763)
- United Brokerage Services (CRD #: 39062)
- Amerivest Investment Management (CRD #: 111514)
- TD Ameritrade (CRD #: 7870)
- M&T Securities (CRD #: 17358)
- American Express Financial Advisors (CRD #: 6363)
- IDS Life Insurance Company (CRD #: 6321)
If William Young 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 firstname.lastname@example.org for a free case consultation with a securities attorney.