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Investor Claims Bill Poulter Recommended Unsuitable Investments

Mar 18, 2022 Business Development Company

William Poulter, or Bill Poulter (CRD #: 3248404), a broker registered with LPL Financial LLC, is facing allegations of unsuitable investment recommendations. This information is from Bill Poulter’s BrokerCheck record, accessed on March 10, 2022. You can find more information below about Bill Poulter’s conduct as a broker and pending customer disputes.

Unsuitable Investment and Misrepresentation Allegations

On November 5, 2021, an investor alleged misrepresentation and suitability issues regarding Bill Poulter’s advice to purchase illiquid REITs and a BDC. REITs and BDCs are high-risk investments that often do not suit investors’ needs. Suitability is described under FINRA Rule 2111, which states that a firm or broker associated with a firm must make recommendations to an investor based on a reasonable indication that the transaction or strategy that they are recommending fits the customer’s profile. Investor profiles include information on the investor’s age, financial situation, and risk tolerance.

Misrepresentation is prohibited under FINRA Rule 2020, which prohibits manipulative, deceptive, or fraudulent actions related to the purchase or sale of securities. The investor is requesting $101,735. The dispute is currently pending.

Background Information

Bill Poulter 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 31 - Futures Managed Funds Examination
  • Series 7 - General Securities Representative Examination
  • Series 24 - General Securities Principal Examination

Bill Poulter is currently registered in 12 states and Washington DC. He is a registered investment adviser in Louisiana and Texas.

He has worked for the following firms:

  • Cuna Brokerage Services, Inc. (CRD #: 13941)
  • Banc One Securities Corporation (CRD #: 16999)
  • Allmerica Investments, INc. (CRD #: 3960)
  • Financial Investment Corporation (CRD #: 13572)

Kurta Law Can Help

If you worked with Bill Poulter and 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.