Bill Conn Subject of $1.5 Million Investor Dispute
Bill Conn (CRD #: 1477107), a broker registered with International Assets Advisory, was fired from his previous firm, according to his BrokerCheck record, accessed on July 7, 2023. Investors may have also engaged his services through International Assets Investment Management. Keep reading to learn more about Bill Conn’s conduct as a broker.
Investor Disputes
On May 11, 2023, an investor alleged that Bill Conn made unsuitable investment recommendations. This dispute was settled for $1.5 million.
In a dispute filed on November 21, 2022, an investor alleged that Bill Conn recommended and executed an unsuitable investment strategy. This strategy allegedly included concentrating the client’s accounts in equities and writing covered call options.
He allegedly also failed to disclose the risks associated with this options strategy, charged excessive commissions, and executed transactions without client authorization. This dispute was settled for $613,000.18.
On September 29, 2020, an investor filed a dispute naming Bill Conn in allegations involving unsuitable investments and the mismanagement of their accounts between May 8, 2018, and August 31, 2020. The client sought $2 million in damages and received a settlement of $525,000.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. An investor’s profile describes their age, risk tolerance, financial goals, and other information.
Investors who rely on brokers for investment recommendations may be able to recover their funds by seeking out FINRA arbitration.
FINRA Rule 2020
The omission of information related to investments violates FINRA Rule 2020, which bans the use of manipulation, deception, and other fraudulent tactics to influence the purchase and sale of securities.
FINRA Rule 3260
FINRA Rule 3260 prohibits brokers from executing discretionary trades outside of pre-approved discretionary accounts authorized by their client and firm.
Termination from Raymond James & Associates
On July 7, 2022, Bill Conn was fired from Raymond James & Associates after he allegedly failed to follow firm policies involving use of discretion, payments made to a client, and a potentially unreported outside business activity.
FINRA Rule 3270
FINRA Rule 3270 requires brokers to receive approval from their firm before participating in business activities outside their firm.
Other business activities
Bill Conn’s detailed BrokerCheck report lists the following outside businesses:
- San Francisco Fly Casting Club Board Member
- Residential Rental Property
- International Assets Investment Management
- W.J. Conn Capital Corp – Private Label Entity for Financial Business
- William J Conn Successor Trustee
Background Information
Bill Conn has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 3 – National Commodity Futures Examination
- Series 7 – General Securities Representative Examination
Bill Conn is a registered broker in California, Nevada, Oregon, and Washington. He is also a registered investment adviser in California.
He has also worked for the following firms:
- Raymond James & Associates (CRD#:705)
- J.P. Morgan Securities (CRD#:79)
- Deutsche Bank Securities (CRD#:2525)
- DB Alex. Brown (CRD#:17790)
- Salomon Smith Barney (CRD#:7059)
- PaineWebber (CRD#:8174)
- Gliksman Securities Corporation (CRD#:8225)
Kurta Law Can Help
If you worked with Bill Conn and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.