Soreide Law Group is looking into potential investor disputes against securities broker William (Bill) David Utanski [CRD#: 2576809, Fort Lauderdale, Florida]. Apparently, Financial Industry Regulatory Authority (“FINRA”) BrokerCheck shows that at least 5 clients took issue with the securities broker, who worked for Ameriprise Financial Services between 2009 and 2018. Evidently, clients of Ameriprise Financial Services indicate that Bill Utanski recommended unsuitable investments that generated losses for clients. Here’s more on the allegations against Utanski:
Ameriprise Investors Accuse Bill Utanski Of Bad Investment Strategy
Apparently, on July 29, 2019, an Ameriprise client filed FINRA Arbitration Claim #: 19-02067 concerning Bill Utanski. Mainly, the client alleged that Utanski recommended a bad investment strategy. Mainly, the securities broker allegedly recommended that the client buy a large position in biotechnology company Dendreon, who filed for Chapter 11 bankruptcy in 2014. Supposedly, Utanski’s recommendations failed to align with the client’s risk tolerance or some other aspect of the client’s investment profile. Because of this, the client asked for $125,000 in compensation from Ameriprise or Utanski. Apparently, this arbitration is pending a resolution.
Utanski Allegedly Causes Ameriprise Client Losses From Unsuitable Advice
Notably, a client of Ameriprise brought a complaint on June 1, 2017 to contest Bill Utanski’s securities recommendations. Allegedly, Utanski recommended a very risky and speculative OTC equity for the client. Supposedly, he ignored the client’s goals or risk tolerance. As a result, Ameriprise agreed to resolve the matter on August 7, 2017 through a payment of $5,000 to the client.
Ameriprise Client Indicates That Bill Utanski Churned Account
Evidently, in 2015, an Ameriprise client filed FINRA Arbitration Claim #: 15-02629 concerning Bill Utanski. Notably, the client contended that Utanski churned or excessively traded the client’s account to maximize commissions. Also, the securities broker seemingly gave the client bad advice regarding purchases of Dendreon stock and other mutual funds. Because of this, on November 10, 2016, Ameriprise settled this client’s dispute through a payment of $20,000.
Did Utanski Sell You Bad Investments?
Have you experienced losses by investing with Bill Utanski? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel in regard to possibly recovering your investment losses. Soreide Law Group represents clients on a contingency fee basis and will advance all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities brokers like Utanski and his employing firms.