WILLIAM C BURKS II of Centaurus Financial

WILLIAM CHARLES BURKS II (BILL BURKS II, WILLIAM C BURKS II) is currently listed as a broker since 8/29/2000, and as an investment advisor since 11/8/2011, with CENTAURUS FINANCIAL, INC. of Flower Mound, Texas. Burks was recently fined and suspended by FINRA.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, WILLIAM C BURKS II has 28 years of experience in the securities industry and has been listed with 2 firms.  Burks has 7 disclosures on his FINRA CRD report, 5 are “Customer Disputes.” The significance of Burks’ disclosures is underscored in FINRA NOTICE to MEMBERS 03-49. FINRA conducted a review of the CRD’s of all registered representatives, only .41% had been the subject of 3 or more customer complaints. In other words, WILLIAM C BURKS’ II customer complaints rank him in the top one-hundredth percent of all registered representatives for customer complaints. 

There is also a “Regulatory” disclosure on Burks’ CRD report dated 8/21/2025 fining him $10,000.00 and suspending him for 4 months with a start date of 9/15/2025 and an end date of 1/14/2026. 

According to the FINRA report, without admitting or denying the findings, WILLIAM C BURKS II consented to the sanctions and to the entry of findings that he allegedly recommended that three clients invest an unsuitably high concentration of their accounts in alternative investments which were illiquid or had limited liquidity and subjected the clients to a substantial risk of loss.

FINRA’s findings alleged that the investments included non-traded real estate investment trusts (REITs), business development companies (BDCs), and interval funds. The clients have filed an arbitration concerning the recommendations, and two of the clients have reached settlements of those claims. The FINRA report states that each of the three clients had a low or moderate risk tolerance and two had investment objectives of preserving capital and generating income, which was not reflected on the transaction paperwork submitted to the firm.

There is a “Customer Dispute” dated 8/23/2023, that settled for $299,000.00.  The allegations were, “The customers allege that, during the period of August 2017 through February 2019, the Registered Representative recommended unsuitable, high-risk, and illiquid investments and breached his fiduciary duty.” Burks denies the allegations.

The dispute against WILLIAM C BURKS II dated 2/21/2024, settled for $287,500.00 following the allegations of, “The customers allege that the Registered Representative recommended unsuitable, high-risk, illiquid investments and breached his fiduciary duty. No specific dates for the alleged activity were identified in the Statement of Claim.” Burks denies the allegations.

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