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Willard Pugh is Involved in an Unsuitability Dispute

Feb 22, 2022 Investor Disputes

Willard Pugh (CRD #:1757428), a broker registered with National Securities Corporation, is involved in an unsuitability dispute, according to his BrokerCheck record accessed on February 10, 2022. He is also an investment advisor registered with National Asset Management. Keep reading if you are concerned with Willard Pugh's conduct as a broker.

Investor Allegations

According to the allegations filed on December 22, 2021, Willard Pugh failed to conduct reasonable due diligence prior to his recommendation of a HIT investment. According to the claimants, this investment recommendation was inconsistent with their investment objectives and risk tolerance. The allegations further state Willard Pugh failed to disclose the risks associated with the investment. The investors are seeking $100,001 一 the case is still pending. This is Willard Pugh's fourth unsuitability dispute, according to his BrokerCheck record.

Prior Unsuitability Disputes

On January 20, 2021, Willard Pugh was involved in an investor dispute alleging unsuitability. Details regarding the nature of the investment have not been provided; however, the claimants are seeking $100,000. 

On July 30, 2020, investors alleged that their UDF V REIT was unsuitable and over-concentrated. Investors claim that the investors sought $155,000; the dispute settled for $44,000. 

On May 29, 2020, he was involved in a similar dispute also alleging unsuitability. The case was settled for $60,000.

What is Unsuitability?

Unsuitability is a term used to describe recommendations and trades that are inconsistent with the customer's goals and investment profile.

Under FINRA Rule 2111, a customer's investment profile includes the customer's:

  • Age
  • Financial situation and needs
  • Tax status
  • Investment objectives
  • Investment experience
  • Risk tolerance.

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

Background Information

Willard Pugh has passed the following exams:

  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination

He is a registered broker in 20 states. He is also a registered investment advisor in Texas and Florida.

Willard Pugh has also worked with the following firms:

  • Dawson James Asset Management (CRD#:135259)   
  • Dawson James Securities (CRD#:130645)        
  • Asset Planning Corporation (CRD#:126242)     
  • Cambridge Investment Research (CRD#:39543)         
  • Mutual Service Corporation (CRD#:4806)          
  • Signator Investors (CRD#:468)    
  • John Hancock Mutual Life Insurance Company (CRD#:5181)
  • American Express Financial Advisors (CRD#:6363)
  • IDS Life Insurance Company (CRD#:6321)       
  • Investock & Co. (CRD#:19926)    
  • First Florida Securities Group (CRD#:14320)

 Kurta Law Can Help

If you have worked with Willard Pugh and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors 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. Please reach out if you have any questions about what steps to take next to recover your investment losses.