Investors Allege Sales Practice Violations In Disputes About Cetera Financial, Bill Burks

FINRA BrokerCheck contains important investor information relating to securities broker William Charles Burks “Bill Burks” (CRD#: 2944992, Flower Mound, Texas). Evidently, Burks works at Centaurus Financial Inc. as both a financial advisor (2011 to present) and securities broker (2000 to present). It appears that investors filed disputes about Burks’ sales practices. One or more of the investors alleged breach of fiduciary duty and unsuitable investments, resulting in damages. Let’s take a closer look at the allegations relating to this securities broker and how you could consult with an investment loss recovery lawyer to potentially obtain damages for sales practice violations. However, bear in mind that the securities broker denies the clients’ allegations.

Bill Burks’ Centaurus Financial Client Alleges Breach Of Fiduciary Duty

Notably, FINRA BrokerCheck shows that a Centaurus Financial client objected to Bill Burks’ sales practices, according to a dispute (FINRA arbitration claim) dated July 2021. Sales practice violations alleged in this claim include illiquid investment recommendations and breach of fiduciary duty. Supposedly, Burks caused the client to experience damages through investing in a real estate security. It seems that the client accepted $20,000 in damages from the securities firm, according to a settlement that the firm and client reached in August 2021. Still, the securities broker claims that the client’s allegations are without merit.

Centaurus Financial Client Alleges Over Concentration In Unsuitable Investments

Particularly, in June 2021, a client objected to Bill Burks’ actions as a securities broker while working for Centaurus Financial. The investor’s cause of action against the securities firm pertains to allegedly unsuitable real estate securities. It appears that Burks or his employer caused damages to the client through their investments in real estate securities. Evidently, Centaurus Financial agreed to settle with the client, with no admission of liability, by paying $249,000 in damages to them per a settlement in May 2022. Evidently, the securities broker denies the allegations of sales practice violations.

Investor Alleges Misrepresentation Involving Centaurus Financial’s Bill Burks

Also, a Centaurus Financial client expressed concerns about Bill Burks’ sales practices, as BrokerCheck shows that the client lodged a FINRA arbitration claim in February 2021. The investor alleges misrepresentation and underperforming REIT investments between March 2016 and November 2020. Because of this, the securities firm opted to settle this matter by virtue of payment to the client in the amount of $49,999 in damages in April 2022. Still, the client’s allegations are denied by the securities broker.

Arbitration Claim Alleges Unsuitable Recommendations Of High-Risk Investments

Particularly, a client objected to Bill Burks’ actions as a securities broker while working for Centaurus Financial. The client brought the investment dispute in February 2021, alleging Burks recommended risky real estate securities. Supposedly, Burks’ recommendations caused the client losses from 2016 to 2021. Therefore, the client seeks relief in this unresolved matter. Burks contends that his recommendations were suitable given the client’s goals, objectives, and financial circumstances.

Losses Through Centaurus Financial Securities Broker Burks?

Did you realize losses because of Bill Burks? You should contact Soreide Law Group at (888) 760-6552 and chat with a skilled securities attorney about a potential recovery of your losses. Soreide Law Group pursues investor dispute cases on a contingency fee basis. Also, we advance all costs. The firm has recovered substantial compensation for United States investors who have experienced losses from financial advisors or securities brokers. Please note that Burks denies all accusations of unreasonable sales practices.

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