William David Olinger III (CRD #2289684) Has Civil and Customer Dispute Disclosures on FINRA BrokerCheck
William David Olinger III (CRD #2289684) was previously registered as a broker and has disclosure events on FINRA BrokerCheck. We reviewed his BrokerCheck report on February 18, 2026. It reflects one civil disclosure and three customer disputes. If you invested with William Olinger and have concerns, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Investor Disputes / Customer Complaints
William Olinger’s FINRA BrokerCheck report reflects three customer dispute disclosures. A summary of two disputes is below. One additional customer dispute remains pending.
On January 8, 2026, a customer dispute was reported as pending. The claim lists breach of fiduciary duty and Regulation Best Interest. William Olinger’s FINRA BrokerCheck report lists the employing firm as Valmark Securities, Inc. It lists the product type as Direct Investment-DPP & LP Interests. The customer seeks $500,000 in alleged damages. The matter is pending in FINRA arbitration (Case No. 26-00008).
On November 25, 2025, another customer dispute was reported as pending. The claim asserts breach of fiduciary duty and fraud. It also asserts civil theft and elder financial abuse. William Olinger’s FINRA BrokerCheck report lists alleged damages of $100,000,000. It lists the product type as no product. The matter is pending in arbitration filed with JAMS.
Civil Event
William Olinger’s FINRA BrokerCheck report reflects one pending civil matter. A summary is below:
On June 3, 2025, Patricia A. Shively and Patricia A. Shively, as Trustee of the Patricia Ann Shively Trust dated June 30, 1998 (as amended), initiated a pending civil action involving William Olinger. The claims assert breach of fiduciary duty, fraud, civil conspiracy, fraudulent inducement, gross negligence, and unjust enrichment. William Olinger’s broker comment states the defendant is represented by legal counsel and that the matter is active. It also states the disclosure will be amended as actions or events occur.
Rule Summary #1: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)
FINRA Rule 2010 sets a broad conduct standard for firms and associated persons. It requires high standards of commercial honor and just and equitable principles of trade. Claims involving fraud may raise questions about whether this standard was met.
Rule Summary #2: FINRA Rule 2111 (Suitability)
FINRA Rule 2111 (Suitability) requires a reasonable basis for each recommendation. It should align with the customer’s investment profile, including risk tolerance and liquidity needs. Disputes may question whether those factors were considered.
Why This Matters to Investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.
Reg BI has four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.
- Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.
- Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.
- Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.
Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.
Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background Information (from BrokerCheck)
Based on His FINRA BrokerCheck report, William David Olinger III:
Is not currently registered as a broker.
BrokerCheck indicates he is currently registered as an investment adviser.
Has passed the Securities Industry Essentials (SIE) exam. William Olinger has passed Series 7 and Series 6. He has also passed Series 63.
Was previously registered with firms that include Valmark Securities, Inc. and Ascend Financial Services, Inc.
Kurta Law Can Help
If you have worked with William Olinger and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call (877) 600-0098 or email info@kurtalawfirm.com.
Helpful resources: Securities Attorney | Types of Broker Fraud
For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.