Bill Horak Allegedly Recommended Unsuitable Investments

Bill Horak (CRD #: 1462594), a broker registered with Purshe Kaplan Sterling Investments, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on May 21, 2025. Investors may have also engaged his services through Wealth Management Corporation. If you have questions about his alleged conduct as a broker, read on.

Investor Dispute

On February 20, 2025, an investor alleged that Bill Horak made an unsuitable investment in Spring Hills Holdings, LLC, and that the investment stopped paying dividends after 24 months. The client seeks $300,000 in this pending dispute.

Another pending dispute, filed on March 28, 2024, alleged that Bill Horak made an unsuitable recommendation of GWG Holdings L Bonds. The investor seeks $100,000.

On November 22, 2022, multiple investors alleged that Bill Horak breached his contract and engaged in negligence with regard to certain GWG L bonds. This dispute was settled for $70,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles describe an investor’s age, tax status, risk tolerance, investing experience, and financial goals.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

What qualifies as broker negligence?

Many forms of broker misconduct may qualify as negligence. Typical examples include misrepresentations or omissions of material fact, unsuitable investment recommendations, and unauthorized trading.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by pursuing FINRA arbitration.

Background Information

Bill Horak has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

Bill Horak is a registered broker in 13 states and a registered investment adviser in Florida and Texas.

He has also worked for the following firms:

• Nationwide Investment Services (CRD#:7110)
• FSC Securities (CRD#:7461)
• Boardwalk Capital Corporation (CRD#:10279)
• Integrated Resources Equity Corporation (CRD#:6403)
• Waddell & Reed (CRD#:866)

Kurta Law Can Help

If you worked with Bill Horak 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.