William Horak Focus Of Purshe Kaplan Client’s Unsuitable Advice Complaint

Investors possibly experienced sales practice violations because of securities broker William Stuart Horak (also known as Bill Horak) [CRD: 1462594, Tallahassee, Florida], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Horak has worked with Purshe Kaplan Sterling Investments since May 5, 2014, and Wealth Management Corporation since November 26, 1990. Below, investors can review details about William Horak’s disclosures.

Purshe Kaplan Sterling Investments Investor Accused Horak Of Unsuitable Advice

Specifically, on February 20, 2025, a Purshe Kaplan Sterling Investments client filed a complaint about William Horak. Supposedly, Horak made unsuitable investment recommendations in Spring Hills real estate securities. The client also complained about dividends stopping after a couple of years. As a result, the client requested $300,000 in compensation from Purshe Kaplan Sterling Investments or Horak.

Client Accused William Horak Of Making Unsuitable Recommendations

Particularly, a client filed a complaint about William Horak. Allegedly, Horak made unsuitable recommendations regarding the sale of GWG L bonds. Because of this, the client allegedly sustained damages. Consequently, on January 21, 2025, Purshe Kaplan Sterling Investments settled this matter by paying the client $26,500.00 in damages.

Horak Disclosed Unsuitable Recommendations Allegations By Purshe Kaplan Sterling Investments Client

Also, a client of Purshe Kaplan Sterling Investments contested William Horak’s sales practices, according to a complaint dated March 28, 2024. Allegedly, Horak made unsuitable recommendations regarding the sale of GWG L bonds. Allegedly, Horak allegedly caused the client to sustain damages through investments in asset-backed bonds. Because of this, the client sought compensation from Purshe Kaplan Sterling Investments or Horak in the amount of $100,000.00 in this matter.

Purshe Kaplan Sterling Investments Investor Accused William Horak Of Breach Of Fiduciary Duty

Additionally, a Purshe Kaplan Sterling Investments client filed FINRA Arbitration No. 23-01230 about William Horak. Supposedly, Horak breached his fiduciary duty, breached a contract, and was negligent relating to sales of asset-backed bonds. Therefore, on July 22, 2024, Purshe Kaplan Sterling Investments settled this matter by paying the client $45,000 in damages.

Client Accused Horak Of Sales Practice Violation

Also, a Purshe Kaplan Sterling Investments client filed FINRA Arbitration No. 23-01620 about William Horak. Allegedly, Horak made unsuitable recommendations. Because of this, the client allegedly incurred damages through investing in real estate securities, including ARC Realty Finance Trust and ARC Hospitality Trust. Consequently, on January 23, 2024, Purshe Kaplan Sterling Investments settled this matter by paying the client $30,000 in damages.

Were You Impacted By Securities Broker / Financial Advisor William Horak?

Do you have concerns about investments you made through William Horak? If so, reach out to Soreide Law Group online or at (888) 760-6552 and speak to a securities attorney about a possible recovery. Soreide Law Group has years of experience recovering losses for investors throughout the United States. The firm also works on a contingency fee arrangement and advances all costs. Horak and securities firms / investment advisories Horak worked for deny allegations of sales practice violations.