Soreide Law Group is investigating possible investor claims against securities broker William Forrest Winchester III (also known as Bill Woods) (CRD: 4404327, Chattanooga, Tennessee). Notably, FINRA sanctioned the securities broker, who worked for Raymond James Financial Services Inc. Allegedly, Winchester borrowed client funds and engaged in an undisclosed outside business activity. Here is a brief summary of FINRA’s allegations against Winchester.
Notably, FINRA issued Acceptance, Waiver, and Consent No. 2020065993801 on April 6, 2023, sanctioning William Winchester for infractions. Allegedly, Winchester borrowed client funds and engaged in an undisclosed outside business activity. Therefore, Winchester was barred as a securities broker.
Also, a Raymond James Financial Services Inc. client filed FINRA Arbitration: 2021-086484 about William Winchester. Namely, the client alleged that Winchester made misrepresentations concerning the way in which a trust was established. Because of this, the client allegedly sustained damages. Therefore, on December 7, 2022, Raymond James Financial Services Inc. settled this matter by paying the client $62,500 in damages.
Particularly, a client of Raymond James Financial Services Inc. contested William Winchester’s sales practices by filing FINRA Arbitration: 21-02846. Allegedly, Winchester made omissions regarding funds deposited in an account, and he borrowed client funds. It appears that Winchester caused the client to sustain damages. Therefore, Raymond James Financial Services Inc. opted to settle the matter on November 8, 2022, by compensating the client in the amount of $160,000.
Supposedly, on June 11, 2020, Tennessee Securities Division issued TSD No. 20-034 sanctioning William Winchester for infractions. Specifically, Winchester was fined $45,000 by Tennessee Securities Division and ordered to be placed on heightened supervision. Evidently, Tennessee Securities Division alleged that Winchester borrowed client funds.
Winchester acted dishonestly and unethically by not informing his firm about three loans he obtained from three different clients, both at the time of borrowing and through annual compliance questionnaires.
Evidently, Raymond James Financial Services Inc. disaffiliated with Winchester on February 20, 2020. Allegedly, Winchester failed to disclose loans and promissory notes with clients.
Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: CONCORDE INVESTMENTS SERVICES, LLC, and BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC (Respondents). The Claimants are in their late 70s, retired, and according to the lawsuit, were not looking to take any unnecessary risks with their retirement savings. The Claimants […]
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