William Campbell Subject of Misrepresentation and Unsuitability Allegations
William Campbell (CRD #: 1180015), a broker registered with David Lerner Associates, is involved in several pending disputes, according to his BrokerCheck record, accessed on May 6, 2022. Keep reading if you have questions about William Campbell’s conduct as a broker.
Allegations of Misrepresentation, Unsuitability
Two pending disputes—filed in 2019 and 2020—allege William Campbell recommended unsuitable investment and misrepresented/omitted information, and failed to supervise. They collectively seek $215,380.76 in damages.
On June 10, 2013, an investor alleged William Campbell’s involvement in unspecified misrepresentation of investments and unsuitability. The investor received a $180,000 settlement.
FINRA Rule 2111
FINRA Rule 2111 defines unsuitable investments as those that fail to match an investor’s profile. Brokers must use the information in investors’ profiles—such as clients’ financial goals, other investments, and risk tolerance—when making investment or strategy recommendations.
Investments may be unsuitable in several ways, including:
- Investments that are over-concentrated in one stock or sector.
- High-risk or illiquid investments.
- An excessive number of trades, which can quickly build up fees and commission costs that cut into investors’ profits.
FINRA Rule 2020
Misrepresentation and omission of information violate FINRA Rule 2020, which prohibits the use of deception, manipulation, and other fraudulent means of influencing investors.
FINRA Rule 3110
FINRA Rule 3110 requires firms to create and maintain systems of supervision to ensure they and their employees comply with FINRA regulations.
William Campbell has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
He is a registered broker in 23 states and the District of Columbia.
He has also worked for the following firms:
- Northwestern Mutual Investment Services (CRD#:2881)
- Robert W. Baird & Company (CRD#:8158)
- Pruco Securities (CRD#:5685)
Kurta Law Can Help
If you worked with William Campbell and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.