Soreide Law Group is reviewing potential investor disputes regarding securities broker William Aubrey Morrow (CRD#: 836500, San Diego, California). According to FINRA BrokerCheck, Morrow worked as an Independent Financial Group securities broker from 2004 to 2018 and as an Independent Financial Group financial advisor from 2005 to 2018. He joined Concorde Investment Services and Concorde Asset Management in August 2018. Evidently, clients of securities firms, including Independent Financial Group, have filed disputes about Morrow. Let’s take a look at some of these disclosures regarding this broker.
BrokerCheck shows that a client of Independent Financial Group complained about Aubrey Morrow’s sales of direct investments. Specifically, in the May 2020 FINRA Arbitration Claim, the Independent Financial Group client alleges that investments were risky and failed to align with their investment objectives and risk tolerance. Supposedly, the client sustained damages of $100,000-500,000. The firm contends that the statement of claim fails to support the damages. Because of that, it is defending against the claim. This matter is ongoing.
Also, an Independent Financial Group client took issue with tenant in common (TIC) products sold through Aubrey Morrow. The Statement of Claim alleges breach of contract, breach of fiduciary duty, unsuitability, negligent supervision, unregistered securities sales, and violation of the California Securities Act. For this reason, the client demanded compensation. It appears that Independent Financial Group settled this matter in April 2016 by making a $100,000 payment to the client. Although the firm settled, it is important to note that the firm and broker deny the client’s allegations, and they claim that the investments were suitable for the client.
A third investor dispute on Aubrey Morrow’s BrokerCheck record comes from an Independent Financial Group client who complained about REIT sales. Namely, the client contends that Morrow or the firm acted in breach of contract and breach of fiduciary duty. In addition, the client alleges that the Independent Financial Group securities broker negligently misrepresented real estate investments. For this reason, Independent Financial Group opted to settle this matter by making a $150,000 payment. Morrow did not contribute to the settlement, according to BrokerCheck.
Moreover, a client of IFG alleged violation of state and federal securities laws in a FINRA Arbitration Claim about Aubrey Morrow’s TIC sales. Particularly, the Statement of Claim alleges unsuitable recommendations, negligence, and breach of fiduciary duty regarding tenant in common investments. Evidently, the securities firm settled with the client by paying them $75,000.
Did you suffer losses because of securities broker Aubrey Morrow? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered substantial compensation for United States investors who have incurred losses from their financial advisors and securities brokers. Please note that Morrow denies all allegations of his sales practice violations.
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