Securities Broker Bill Young Involved In H. Beck Investor Disputes
The Financial Industry Regulatory Authority (“FINRA”) reports through BrokerCheck that investors complained about the sales practices of William “Bill” Robert Young (CRD#: 4787488, Rockville, Maryland). It appears that these disputes, all of which have been filed between 2018 to 2021, involve Young’s actions at H. Beck Inc. (2010 to 2017) or Kingwood Capital Partners (2018 to present).
Clients Allege That Bill Young Made Misrepresentations Regarding REITs
First of all, clients of H. Beck filed a dispute in December 2020 regarding Bill Young. Notably, the clients alleged that Young misrepresented risks on REITs and BDCs. Also, they alleged that alternative investments were not suitable for them. It appears that the clients demanded $123,000 to resolve this ongoing matter.
Kingswood Capital Client Alleges Unsuitable UITs, REITs
Notably, a client who invested through Bill Young at H. Beck and Kingswood Capital Partners brought a dispute in October 2020. Specifically, the client alleged that Young had them invest in unsuitable unit investment trusts and REITs. It seems that the client might have suffered damages on these investments from July 2012 to August 2020. However, this dispute has been denied.
Bill Young Allegedly Sold Risky Energy Investments
Also, a client of H. Beck filed a lawsuit in December 2018 in regard to Bill Young’s trading activities. Supposedly, Young overconcentrated the client’s portfolio in REITs and energy investments. It appears that the client wished to preserve capital but instead incurred losses from April 2012 to October 2018. Because of this, H. Beck ultimately agreed to pay them $24,000 to resolve this matter in September 2019.
Losses From Investing Through Broker Bill Young?
Apparently, Bill Young denies accusations of his sales practice violations. Have you incurred losses by investing with him? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have experienced losses because of their securities brokers and financial advisors.