William Ornstein In GMS Client Investment Disputes

Clients Of GMS Group Bring Investment Disputes About Broker William Ornstein

Soreide Law Group updates you concerning FINRA BrokerCheck disclosures on William Martin Ornstein (CRD#: 500470, Boca Raton, Florida). It appears that the disclosures involving Ornstein concern his employment at securities firm GMS Group, where he was a broker from October 2001 to December 2021. You’ll want to take a closer look at the allegations of breach of fiduciary duty and negligence as reported on BrokerCheck. But keep in mind that the securities broker denies committing improper sales practices.

GMS Group Client Alleges Negligence, According To FINRA Arbitration Claim Involving William Ornstein

Specifically, a client of GMS Group expressed concerns in 2019 about William Ornstein’s sales practices. In particular, the client alleges that the securities firm or broker breached a fiduciary duty and acted with negligence. Supposedly, Ornstein caused the client to incur damages relating to their investments in municipal bonds. It seems that the client accepted $9,500 in damages from the securities firm, according to a settlement in May 2020.

Client Of GMS Group Alleges Misrepresentation, Negligence In Dispute About Broker

Notably, a different client of GMS Group complained in 2019 about William Ornstein’s sales practices at GMS Group. The investor’s dispute against the securities firm alleges misrepresentation, breach of fiduciary duty, and negligence. Supposedly, the client experienced damages stemming from Ornstein’s sales practice violations concerning municipal bonds. Therefore, to settle this matter without admitting liability, the securities firm agreed to compensate the client in the amount of $28,500 in August 2021.

William Ornstein’s Client Alleges Unsuitable Concentration Of Assets In MLPs

Evidently, a GMS Group client decided to lodge a dispute about William Ornstein’s and the securities firm’s sales practices in November 2015. The client’s causes of action against the securities firm include overconcentration of the client’s assets in alternative investments. Supposedly, the client experienced damages relating to master limited partnerships (MLPs). Because of this, the securities firm opted to resolve this matter by virtue of payment to the client in the amount of $36,750 in damages. Evidently, the settlement was reached in January 2019.

Client Alleges Unsuitable Advice At GMS Group

Specifically, a GMS Group client expressed concerns about William Ornstein’s sales practices, as BrokerCheck shows that the client lodged an investment dispute in November 2009. Supposedly, Ornstein or the securities firm caused the client to experience damages by investing in corporate bonds. The client’s allegations against the securities firm or broker include unsuitable recommendations of the bonds. It appears that GMS Group opted to resolve this matter by paying the client $5,000 in damages, according to a settlement in September 2011.

GMS Group Client Alleges Ornstein Made Unsuitable, Unauthorized Trades

Evidently, in June 2009, a GMS Group client decided to lodge a dispute about William Ornstein’s and the securities firm’s sales practices. Supposedly, the client sustained damages because of poor trades regarding corporate and municipal bonds as well as closed ends funds. Notably, the client’s causes of action reportedly include unauthorized transactions, violation of fiduciary obligations, and misrepresentations. Evidently, GMS Group agreed to settle, without admitting liability, by paying $675,000 in damages to the client.

Losses Through William Ornstein?

Did you realize losses because of William Ornstein? You should contact Soreide Law Group at (888) 760-6552 and chat with a skilled securities attorney about a potential recovery of your losses. Soreide Law Group pursues investor dispute cases on a contingency fee basis. Also, we advance all costs. The firm has recovered substantial compensation for United States investors who have experienced losses from financial advisors or securities brokers. Please note that Ornstein denies all accusations of unreasonable sales practices.