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William Bruce is Facing Allegations of Misrepresentation

William Bruce (CRD #: 6474272), a broker registered with Equitable Advisors, is the subject of an investor dispute. This dispute appears on his BrokerCheck record, accessed on February 23, 2024. Keep reading if you have questions regarding his alleged conduct. 

Allegations of a Misrepresented VUL 

On November 29, 2023, an investor alleged that William Bruce misrepresented a Variable Universal Life insurance policy. The dispute was denied, but investors should know that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration

Variable Universal Life Insurance

A Variable Universal Life insurance policy (VUL) has two notable features: a tax-free death benefit for beneficiaries and an investment portfolio. Part of each premium payment is invested—but returns depend on the performance of these investments, so the policy is not guaranteed to increase in value. Additionally, VULs are often at risk of lapsing, which negates their purported tax benefits.

FINRA Rule 2020 – Misrepresentation

FINRA Rule 2020 prohibits the misrepresentation of investments and omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and fees. Brokers must always disclose the risks associated with illiquid investments, such as early withdrawal fees. 

Background Information 

William Bruce 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 7 General Securities Representative Examination 
  • Series 24 General Securities Principal Examination

He is registered as both a broker and an investment adviser in California, Florida, Georgia, Idaho, North Carolina, South Carolina, and Texas. 

Kurta Law Can Help 

If you have worked with William Bruce and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or 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 that 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. Do not let securities fraud go unchecked. Start your recovery process today.