William Richardson

Currently financial advisor William Richardson (Richardson), currently employed by brokerage firm Cetera Wealth Services, LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a settled customer complaint on June 09, 2020.

Approximately 4-7 years after electing to invest in REITs and BDCs, Claimant (a retired lawyer) now alleges that the investments were unsuitable.

Advisor William Richardson (Richardson), currently employed by InvestCorp, Inc. (InvestaCorp) has been subject to at least five customer complaints. According to a BrokerCheck report some of the customer complaints concern alternative investments and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and equipment leasing programs. The attorneys at Gana Weinstein LLP have extensive experience handling investor losses caused by these types of products.

In November 2018 a customer filed a complaint alleging that Richardson violated the securities laws by being recommended alternative investments that were unsuitable. The claim alleges $500,000 in damages and is currently pending.

In July 2009 a customer complained that Richardson violated the securities laws by being recommended a limited partnership investment that was not unsuitable. The claim alleges $50,000 in damages and was closed.

Our firm often handles cases involving direct participation products, Non-Traded REITs, oil and gas offerings, equipment leasing products, and other alternative investments. These products are almost always unsuitable for investors. In addition, the brokers who sell them are paid additional commission in order to hype inferior quality investments which provides a perverse incentives by brokers to create an artificial market for products that no honest advisor would sell.

Articles Tagged with William Richardson

Broker William Richardson in Cetera Wealth Services, LLC Firm Has Customer Complaint

Advisor William Richardson Subject to Complaints Over Alternative Investments