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Roy Williams Allegedly Recommended Unsuitable Investments

Roy Williams (CRD #: 1069297), a broker registered with Center Street Securities, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on September 9, 2022. Investors may have also engaged his services through Center Street Advisors. If you have questions about his conduct as a broker, read on.

Investor Disputes

On May 26, 2020, an investor alleged that Roy Williams failed to conduct due diligence and recommended unsuitable investments. The client sought $100,000 in damages and received a settlement of $52,000.

On March 10, 2017, an investor alleged that Roy Williams failed to disclose pending litigation against the General Partner of Payson Petroleum 3 Well 2014, LP before the client purchased shares of that private placement.

The client further alleged that Roy Williams misrepresented this litigation and the risk associated with it. They alleged this recommendation of the investment was unsuitable given the client’s investment goals and overall profile.

Lastly, the client alleged that Roy Williams’ actions led to $30,000 in losses. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an external review. Investors can still seek out FINRA arbitration following a denial and potentially recover their funds.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles include information about an investor’s tax status, risk tolerance, and investment goals.

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

FINRA Rule 2020

Misrepresentation and omission of information related to investments violate FINRA Rule 2020, which prohibits the use of manipulative, deceptive, and otherwise fraudulent tactics to influence investors’ decisions.

What is broker negligence?

Broker negligence can come in many forms, ranging from recommending unsuitable investments to unauthorized trading to failing to supervise other brokers. Investors who lose money through broker negligence may be able to recoup their losses through FINRA arbitration.

Background Information

Roy Williams has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Secufrities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Roy Williams is a registered broker in Connecticut, Nevada, New York, Rhode Island, and Texas. He is also a registered investment adviser in Connecticut.

He has also worked for the following firms:

  • EDI Investment Advisor Corporation (CRD#:124129)
  • EDI Financial (CRD#:15699)
  • EDI Investment Advisor Corporation (CRD#:124129)
  • Harvest Capital Advisors (CRD#:125920)
  • Harvest Capital (CRD#:35723)
  • USAllianz Securities (CRD#:40875)
  • Washington Square Securities (CRD#:2882)
  • Mony Securities Corporation (CRD#:4386)
  • 1717 Capital Management Company (CRD#:4082)
  • MetLife Securities (CRD#:14251)
  • Metropolitan Life Insurance Company (CRD#:4095)

Kurta Law Can Help

If you worked with Roy 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.