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William McLaughlin Involved in Investor Dispute Alleging Unsuitability

Feb 16, 2022 Investor Disputes

William McLaughlin (CRD #: 1014583), a formerly registered broker with Coastal Equities, is involved in an investor dispute according to his BrokerCheck record, accessed on February 2, 2022. 

Investor Allegations

On October 1, 2021, a dispute was filed against William McLaughlin alleging breach of fiduciary duty after William McLaughlin made unsuitable recommendations, was negligent, and made a material misrepresentation. The investor is seeking $45,000一the dispute is still pending. 

On September 29, 2020, William McLaughlin was involved in a similar dispute. The case has since been settled for $59,503.46.

There are three other suitability disputes on William McLaughlin’s record. These collectively settled for $98,390.76. 

Unsuitability and Misrepresentation

A financial advisor who recommends a security or investment is subject to rules enforced by FINRA. 

FINRA Rule 2111 requires registered financial advisors to have a "reasonable basis" to believe that a recommended transaction or investment strategy suits their client's needs.

FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. 

William McLaughlin’s alleged unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor. 

Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration if their broker recommended an unsuitable investment. 

Background Information

William McLaughlin 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

William McLaughlin has also worked with the following firms: 

  • Bedminster Financial Group, Limited (CRD#:39916)
  • FSC Securities Corporation (CRD#:7461)
  • METLIFE Securities (CRD#:14251)
  • Metropolitan Life Insurance Company (CRD#:4095)
  • CUNA Brokerage Services (CRD#:13941)
  • Lincoln Financial Advisors Corporation (CRD#:3978)
  • The Lincoln National Life Insurance Company (CRD#:2580)
  • American Capital Corporation (CRD#:16124)
  • American Eagle Securities (CRD#:12973)
  • Columbia Asset Management Corp. (CRD#:16283)
  • John Hancock Distributors (CRD#:468)

Kurta Law Can Help

If you have been victimized after working with William McLaughlin, 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.