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Investors Allege Carl Williams Recommended Unsuitable Investment Strategy

Carl Williams (CRD #: 1721736), a broker registered with LPL Financial, allegedly recommended an unsuitable investment strategy, according to his BrokerCheck record, accessed on April 28, 2023. If you have questions about his alleged conduct as a broker, read on.

Investor Dispute

On March 2, 2023, several investors alleged that Carl Williams recommended an unsuitable investment strategy from April 22, 2020, to October 20, 2022, that was not in line with their risk tolerance and investment objectives. They seek $500,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consult the investor’s profile, which describes their tax status, risk tolerance, age, and other characteristics.

Brokers must also ensure that their recommended investment strategies are suitable for their clients. Overconcentration in a single stock or sector is a potentially unsuitable investment strategy that can expose an investor to an unsuitable degree of risk.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

Background Information

Carl Williams has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 65 – Uniform Investment Adviser Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 3 – National Commodity Futures Examination

Carl Williams is a registered broker in 25 states and a registered investment adviser in Illinois and Texas.

He has also worked for the following firms:

  • Chapin, Davis (CRD#:28116)
  • Chapin Davis Asset Management (CRD#:28116)
  • Williams Investment Network (CRD#:123941)
  • First Union Securities (CRD#:19616)
  • Robert W. Baird & Company (CRD#:8158)
  • Everen Securities (CRD#:19616)
  • Shearson Lehman Hutton (CRD#:7506)
  • E. F. Hutton & Company (CRD#:235)

Kurta Law Can Help

If you worked with Carl Williams and you have concerns about your investments, please contact us today at 877-600-0098 or 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.