William Burks Facing Client Disputes

Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker William Charles Burks II (also known as Bill Burks) [CRD: 2944992, Flower Mound, Texas]. William Burks has been registered with Centaurus Financial, Inc. since 2000 and has amassed over 27 years of experience in the securities industry. Recent disclosures reveal concerns about Burks’ conduct, including allegations of unsuitable investment recommendations, misrepresentation, and breaches of fiduciary duty.

Centaurus Financial Client Files Arbitration Claim Alleging Unsuitable Recommendations

On August 20, 2024, a client of Centaurus Financial filed an arbitration claim alleging that William Burks recommended unsuitable, illiquid, and speculative investments, breaching his fiduciary duty. The claim does not specify dates or investments. The damages sought total $200,000. This matter is currently pending resolution (FINRA Arbitration No. 24-01693). Burks has denied any wrongdoing, asserting the investments were suitable based on the client’s financial objectives and circumstances.

Centaurus Financial Clients File Arbitration Claim Alleging High-Risk Recommendations

On February 21, 2024, clients of Centaurus Financial alleged that Burks recommended unsuitable, high-risk, and illiquid investments, resulting in claimed damages of $1,000,000. The matter remains unresolved and is pending arbitration (FINRA Arbitration No. 24-00320). Burks denies all allegations, maintaining that the recommendations aligned with the clients’ goals and financial profiles.

Centaurus Financial Clients File Arbitration Claim Alleging Unsuitable and Illiquid Investments

On August 23, 2023, clients alleged that, during the period from August 2017 to February 2019, Burks recommended high-risk, unsuitable, and illiquid investments that breached his fiduciary duty. Damages sought total $580,000. This arbitration claim is still pending (FINRA Arbitration No. 23-02233). Burks continues to deny all allegations.

Centaurus Financial Client Files Arbitration Claim Alleging Risky and Low-Value Investments

On May 23, 2023, a client alleged that Burks recommended risky and low-value investments. No specific damages were identified in the statement of claim, but Centaurus Financial estimated the potential compensatory damages exceeded $5,000. This matter is pending resolution (FINRA Arbitration No. 23-01378). Burks denies all allegations and asserts that his recommendations were appropriate.

Centaurus Financial Client Files Arbitration Claim Alleging Unsuitable Recommendations

On January 23, 2023, a client alleged negligence and unsuitable investment recommendations between 2009 and 2013, seeking $57,653 in damages. This claim was closed with no action taken, and Burks contributed no monetary settlement.

Centaurus Financial Clients Settle Arbitration Claim Alleging Risky Investments

On October 11, 2022, clients alleged unsuitable, high-risk, and illiquid investment recommendations. Centaurus Financial resolved the claim by paying $25,000 in settlement. Burks did not contribute financially and denied any wrongdoing.

Centaurus Financial Clients Settle Arbitration Claim Alleging Illiquid Investments

On July 16, 2021, clients alleged breaches of fiduciary duty and unsuitable recommendations for illiquid investments. The claim sought $99,000 in damages. Centaurus Financial settled the case for $20,000 without Burks contributing financially.

Centaurus Financial Clients Settle Arbitration Claim Alleging Misrepresentation and Unsuitable Investments

Between the mid-2000s and 2018, clients alleged that Burks misrepresented investments and breached his fiduciary duty, seeking $415,000 in damages. Centaurus Financial settled the claim for $52,750 without any financial contribution from Burks.

Contact Soreide Law About William Burks Today

If so, reach out to Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney. The team at Soreide Law Group works on a contingency basis, advances costs as needed, and assists investors across the country with recovering losses from sales practice misconduct. Burks and Centaurus Financial deny accusations of sales practice violations.