There are options for clients of former Raymond James & Associates, Inc. and William Conn (CRD# 1477107), who faces customer complaints related to unsuitable options strategy leading to investment losses.
He was registered with Raymond James & Associates, Inc. in San Francisco, California from 2018 to 2022, when he was terminated regarding, “individual failed to follow firm policies with respect to exercise of discretion, and with respect to payments to a client, and for a potential unreported OBA.”
Previously, he was registered with J.P. Morgan Securities LLC in San Francisco, California from 2012 to 2018.
William Conn Customer Complaints
He has been the subject of six customer complaints between 2000 and 2023, one of which was denied, according to his CRD report. The most recent complaints were regarding:
July 2023. “Two clients allege FA improperly placed them in aggressive and inappropriate investments, and one of the clients also alleges that his account was invested in speculative positions and that there may be evidence of churning.”
May 2023. “Client alleges FA recommended unsuitable investments.” The customer sought $1,500,000 in damages, and the case was settled for $1,500,000.
November 2022. “Claimant alleges that FA recommended and implemented an unsuitable investment strategy which included concentrating her accounts in equities and writing covered call options; he failed to disclose the risks of the options strategy; he charged excessive commissions; and he executed certain transactions without authorization.” The case was settled for $613,000.18.
September 2020. “Client alleges mismanagement of accounts and unsuitable investments. Allegation Activity Dates: 5/8/2018 – 8/31/2020.” The customer sought $2 million in damages, and the case was settled for $525,000. The complaint took place while he was registered with J.P. Morgan Securities LLC, and it was regarding common and preferred stocks and options.
How to File a Claim Against William Conn
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, J.P. Morgan Securities LLC may be liable for investment or other losses suffered by William Conn’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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