William Sines Allegedly Misrepresented Unsuitable Investments to Client

William Sines (CRD #: 2190586), a broker registered with Berthel, Fisher & Company Financial Services, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on February 21, 2023. Investors may have also worked with him through BFC Planning.  If you want to know more about his alleged conduct as a broker, keep reading.

Investor Dispute

On January 5, 2023, an investor filed a dispute alleging that William Sines recommended and made misrepresentations about unsuitable investments the client purchased before 2017. The client further alleged that the firm failed to supervise these recommendations. This dispute is currently pending.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulative, deceptive, or otherwise fraudulent methods to influence investors’ decisions. Misrepresenting an investment’s limitations, requirements, or other features violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. An investor’s profile includes information about their risk tolerance, tax status, and financial goals.

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their funds by pursuing FINRA arbitration.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish supervisory systems to maintain their compliance with securities regulations. Firms must appoint supervisors and provide them with Written Supervisory Procedures (WSPs) to follow.

Background Information

William Sines 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 22 – Direct Participation Programs Representative Examination
• Series 62 – Corporate Securities Limited Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination
• Series 24 – General Securities Principal Examination

William Sines is a registered broker in 13 states and a registered investment adviser in Florida.

He has also worked for the following firms:

• Kalos Management (CRD#:133025)
• Kalos Capital (CRD#:44337)
• SII Investments (CRD#:2225)
• Pruco Securities (CRD#:5685)
• The Prudential Insurance Company of America (CRD#:680)

Kurta Law Can Help

If you worked with William Sines and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.