Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on March 12, 2019 indicate that Florida-based GMS Group broker William Ornstein has received numerous resolved or pending customer complaints. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Ornstein (CRD# 500470).
William Ornstein has spent 39 years in the securities industry and has been registered with the GMS Group in Boca Raton, Florida since 2001. Previous registrations include Herbert J. Sims & Company in Fairfield, Connecticut (2001); Atlantic Group Securities in Millburn, New Jersey (1997-1998); Rickel & Associates in New York, New York (1997); First Interregional Equity Corporation in Milburn, New Jersey (1989-1997); First Monmouth Securities (1987-1989); Baird Patrick & Company (1978-1987); McLaughlin Piven (1978); and Halbert Oberst and Company (1976-1978). He has passed four securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 30, 1999; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 53 (Municipal Securities Principal Examination), which he obtained on June 12, 1984; and Series 40 (Registered Principal Examination), which he obtained on October 20, 1977. He is a registered broker with twelve US states and territories.
According to his BrokerCheck report, William Ornstein has received seven customer complaints and three pending customer complaints.
In February 2019 a customer alleged William Ornstein, while employed at the GMS Group, acted negligently, misrepresented material facts, breached his fiduciary duty, and committed deception and exploitation. The customer is seeking $250,000 in damages in the pending complaint.
In 2015 a customer alleged William Ornstein, while employed at the GMS Group, over-concentrated securities in the account and committed fraud. The complaint settled for $36,750.
In 2009 a customer alleged William Ornstein, while employed at the GMS Group, recommended unsuitable securities. The customer is seeking $101,183 in damages in the pending complaint.
In 2009 a customer alleged he, while employed at the GMS Group, executed unauthorized trades, made unsuitable transactions, misrepresented and/or omitted material facts, and breached his fiduciary duty. The complaint settled $675,000.
In 2008 a customer alleged he, while employed at the GMS Group, failed to provide a complete description of a municipal bond investment. The complaint settled for $5,000.
If you or someone you know has a complaint regarding William Ornstein, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.