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Indianapolis-Based Broker Jason K. Williams Permitted to Resign from Thurston Springer Financial

Jason K. Williams (CRD#: 4676003) was permitted to resign from Thurston Springer Financial on February 8, 2019 after he made unauthorized comments in an online forum regarding “a stock held in his own account and in the accounts of his clients,” according to his BrokerCheck report accessed on September 3, 2019.

Jason K. WilliamsHis recent resignation is not the only disclosure on his BrokerCheck report. On July 12, 2019, he became involved in a pending customer dispute in which “counsel for client complains of over-concentration of stocks in an advisory account and complains that the client should have received larger gains in the advisory account.” The client is seeking $71,930.00 in damages. When a portfolio is overconcentrated, it is invested in one stock or only a few stocks; if these stocks perform poorly, significant losses can occur. In contrast to overconcentration, diversification ensures that your portfolio is filled with different securities, minimizing risk.

Prior to that complaint, on December 9, 2018, an “advisory client complained about account performance in advisory account.” The matter was ultimately settled for $24,473.79. The client originally requested $24,734.00.

Jason K. Williams is not currently registered as a broker and not affiliated with any broker-dealer as of September 3, 2019. Over his 12-year career as a financial advisor, Jason K. Williams has worked for seven brokerage firms:

  • Thurston Springer Financial (CRD#: 8478) of Indianapolis, Indiana
  • Wells Fargo Advisors, LLC (CRD#: 19616) of Indianapolis, Indiana
  • Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#: 7691) of Greenville, South Carolina
  • Hatteras Capital (CRD#: 143365) of Raleigh, North Carolina
  • Rafferty Capital Markets, LLC (CRD#: 23682) of Boston, Massachusetts
  • John Hancock Funds, LLC (CRD# 28262) of Boston, Massachusetts
  • UBS Financial Services Inc. (CRD#: 8174) of Weehawken, New Jersey

If Jason K. Williams was your broker or if you have questions about overconcentration, don’t hesitate to contact a securities attorney. Call (877) 238-4175 or email to speak with Marc Fitapelli and Jonathan Kurta, the knowledgeable securities attorneys of Fitapelli Kurta.

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