Investor Disputes About Bill Sines Allege Unsuitable Transactions At SII Investments, Berthel Fisher
Soreide Law Group is investigating whether to bring potential investor disputes against securities broker William Charles Sines (Bill Sines) (CRD#: 2190586, Seminole, Florida). Evidently, Sines worked for securities firms, including SII Investments (1997 to 2015), Kalos Capital (2015 to 2018), and Berthel Fisher (June 2018 to present). He also worked as a financial advisor for SII Investments, Kalos Management, and BFC Planning. Notably, five investor disputes show up on Sines’ Financial Industry Regulatory Authority (FINRA) BrokerCheck record. Let’s take a closer look at these disputes.
SII Investments, Berthel Fisher Client Alleges Unsuitable Real Estate Security By Bill Sines
Evidently, a client of SII Investments and Berthel Fisher came forward with a dispute about Bill Sines in December 2020. The client’s agent alleges that Sines made unsuitable sales of real estate securities when he worked for those firms. Because of this, the client asked for compensation. However, they did not take further action to date.
Sines Allegedly Caused Client To Make Inappropriate Annuity Surrender
It appears that a client of Berthel Fisher Company challenged Bill Sines’ sales practices. In the July 2019 dispute, the client contends that Sines told them to liquidate their annuity. Supposedly, Sines’ advice caused them to incur thousands in penalties and lost interest credits. In addition, Sines purportedly gave unsuitable advice to the client about using the annuity proceeds to purchase a REIT. For this reason, the client asked for $38,651.89 in compensation. However, this dispute is closed.
Bill Sines’ Client At Kalos Capital Alleges Unsuitable Recommendations
Notably, the third dispute on Bill Sines’ BrokerCheck record comes from a client of Kalos Capital, who alleged in a November 2017 dispute that Sines provided poor advice. Specifically, the securities broker provided unsuitable recommendations regarding mutual funds and REITs. Evidently, Kalos Capital opted to settle this matter by paying the client $19,737 in March 2018.
Prior Disputes About The Securities Broker
Moreover, an SII client in 2007 alleged unsuitable REITs as those products were illiquid; however, the firm denied this dispute. And the first dispute on Bill Sines’ record, which an SII Investments client filed, alleged unsuitable variable annuities. It appears that the client received $36,000 in compensation to resolve this suitability dispute.
Losses Through Bill Sines?
Did you suffer losses because of securities broker Bill Sines? 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 Sines denies all allegations of his sales practice violations.