Soreide Law Group has new information to share with you concerning securities broker and financial advisor William Sidney Friedman (CRD#: 2475502, Boca Raton, Florida). Evidently, Friedman worked for securities firms Newbridge Securities Corporation (2007 to 2017), Woodstock Financial Group (2017 to 2019) and Pinnacle Investments (2020). Notably, FINRA suspended Friedman as securities broker on July 26, 2021. In addition, four investors disputed his sales practices. Here’s more.
The suspension is the result of William Freidman failing to respond to a FINRA request for information. Refusing to cooperate with a FINRA investigation generally results in a suspension or bar of the securities broker. As of this date, it does not appear that Friedman requested a termination of his suspension or otherwise complied with FINRA’s requests. If he does not do so, then FINRA intends to automatically bar him on October 5, 2021.
In a dispute dated March 26, 2021, a client accused William Friedman of sales practice violations. Specifically, the client made allegations of unsuitable recommendations, misrepresentations, negligence, breach of fiduciary duty, and unauthorized trading. Supposedly, the client sustained losses on stock trades, and now pursues $700,000 in compensation. This matter is ongoing.
In February 2021, a different client took issue with William Friedman’s sales practices. In this FINRA Arbitration Claim, the Pinnacle Investments client alleges misrepresentation, elder abuse, unsuitable trading, excessive trading, breach of contract, breach of fiduciary duty, and violation of securities laws. Evidently, Pinnacle Investments opted to settle this matter through paying the client $24,900.
Moreover, a client dispute dating back to 2016 contains allegations of William Friedman recommending an unsuitable trading strategy. Supposedly, Friedman controlled the client’s account, and invested in mutual funds, stocks, and over-the-counter equities. Also, the client alleged that Friedman breached a fiduciary duty. For this reason, Newbridge Securities Corporation opted to pay the client $10,000 to settle this matter.
Did you suffer losses because of securities broker William Friedman? If so, call Soreide Law Group at (888) 760-6552 and speak with a helpful 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 hundreds of United States investors who have incurred losses because of their financial advisors and securities brokers. Please note that Friedman denies all allegations of his sales practice violations.
JOSEPH KELLY (JOE KELLY) has been registered as a broker with VCS VENTURE SECURITIES of New York, NY since 6/17/2026. He was previously registered with SPARTAN CAPITAL SECURITIES LLC of New York, NY from 01/13/2017 - 12/18/2024. According to FINRA’s BrokerCheck, available to the public on FINRA’s website, JOSEPH KELLY has 21 years of experience […]
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