William Tufts Fined $10,000 by State Regulator
William Tufts (CRD #: 2053884), a broker registered with Crown Capital Securities, L.P., is the subject of a regulatory action in Oregon, according to his BrokerCheck record, accessed on August 10, 2021. Investors may have also used Tufts’ services through Tufts Wealth Management.
On June 3, 2021, the State of Oregon Department of Financial Regulation fined William Tufts $10,000 following allegations that he omitted surrender charges from an investment change form, and therefore allegedly engaged in an unfair practice. The State further alleged that Tufts did not create client notes or maintain documents reflecting his discussion with his investor – therefore violating requirements to maintain accurate books and records.
There is a similar investor dispute on his record. On November 11, 2019, an investor alleged that they had not authorized William Tufts to surrender a variable annuity, which resulted in a $3,192.75 surrender fee. This surrender also allegedly resulted in the loss of guaranteed lifetime income rider and the loss of a guaranteed death benefit. The investor further alleged Tufts executed unauthorized transactions in Unit Investment Trusts. The investor is seeking $89,063.36; the dispute is pending.
William Tufts Background Information
Tufts has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 6 Investment Company Products / Variable Contracts Representative Examination
- Series 24 General Securities Principal Examination
- Series 26 Investment Company Products/ Variable Contracts Principal Examination
He is a registered broker in eight states.
Tufts has registered with the following firms:
- Crown Capital Securities (CRD #: 6312)
- First Investors Corporation (CRD #: 305)
Kurta Law Can Help
If you worked with William Tufts and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email email@example.com.