Wills Henriquez Discloses Network 1 Client Dispute

Securities Broker Wills Henriquez Sanctioned And Involved In Investor Disputes

Soreide Law Group comes to you with new information regarding securities broker Henriquez (CRD#: 1872198, Brooklyn, New York). Wills Schneider Henriquez worked for Network 1 Financial Securities from 2013 to 2018. During that time, Henriquez worked with a client who later complained. Other disputes on Henriquez’s record concern his actions at other firms, including Fordham Financial, Success Trade Securities, and Emerald Investments. Moreover, FINRA suspended Henriquez for 45 days and fined him $7,500 to resolve a regulatory matter. Here’s a quick rundown of the disclosures as reported on BrokerCheck.

Wills Henriquez’s Network 1 Financial Securities Client Alleges Breach Of Fiduciary Duty

Evidently, a client of Network 1 Financial Securities disputed Wills Henriquez’s sales practices in May 2019. It appears that Henriquez allegedly breached a fiduciary duty in connection with his trading of stock in the client’s account. Also, the client noted fees as an issue. For this reason, the client asked for $204,600 in compensation. Network 1 Financial Securities agreed to resolve this matter by paying $75,000 to the client in June 2020.

Financial Industry Regulatory Authority (FINRA) Issues Suspension, Fine To Henriquez Concerning Alleged Discretionary Transactions

Evidently, the financial industry watchdog, FINRA, who oversees most major securities firms in the United States, issued Wills Henriquez a fine and a suspension because of Henriquez allegedly making discretionary trades without permission. In order for Henriquez to trade using discretion, he needed written authorization from Network 1 Financial Securities and the clients. According to the regulator, he did not have written authorization, and he supposedly mismarked solicited orders as unsolicited. This caused inaccuracies in the firm’s records. It appears that Henriquez fully resolved the matter.

Client Receives Award After Filing Arbitration Claim Against Wills Henriquez

It appears that a client filed a FINRA Arbitration Claim against Wills Henriquez. The Statement of Claim alleges unsuitable investments, misleading statements, misrepresentation, breach of fiduciary duty, breach of covenants of good faith and fair dealing, breach of conduct, and negligent supervision. The client brought the claim against both Emerald Investments and Henriquez. The Arbitrator found that Henriquez was liable for the damages. For this reason, the Arbitrator instructed Henriquez to pay $30,115.85 in compensatory damages, plus interest.

Fordham Financial Client Alleges Damages In Connection With Market Correction

Also, a client of Fordham Financial took issue with Henriquez’s sales practices, according to a FINRA Arbitration Claim. The client mainly alleged a market correction led to damages. For this reason, Fordham Financial agreed to pay the client $21,999 in compensation.

Losses Through Wills Henriquez?

Did you suffer losses because of securities broker Henriquez? 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 from their financial advisors and securities brokers. Please note that Henriquez denies all allegations of his sales practice violations.