The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Florida-based Transamerica Financial Advisors broker/adviser William Byrd (CRD# 1334634).
William Byrd has spent thirty years in the securities industry and has been registered with Transamerica Financial Advisors in Tampa, Florida since 2001. Previous registrations include Pruco Securities Corporation in Newark, New Jersey (1992-2001); Merrill Lynch Pierce Fenner & Smith in New York, New York (1990-1992); American Express Financial Advisors in Minneapolis, Minnesota (1988-1990); IDS Life Insurance Company in Minneapolis (1988-1990); Cigna Securities (1987-1988); and Security First Financial (1985-1987). Mr. Byrd is a registered broker and investment adviser in twelve US states, including California, Florida, New York, Ohio, and Texas.
According to his BrokerCheck report, William Byrd is the subject of two customer complaints.
In 2014 a customer alleged William Byrd, while employed at Transamerica Financial Advisors, made unsuitable investment recommendations that resulted in losses. The customer sought more than $100,000 in the complaint, which was eventually denied.
Also in 2014, a customer alleged William Byrd, while employed at Transamerica Financial Advisors, recommended unsuitable investments in direct private placement and limited partnership interests, and oil & gas interests. The customer is seeking $86,400 in the complaint.
FINRA rules and federal securities law stipulate that brokers like William Byrd have a duty to recommend only investments that are suitable for their clients. Brokers must consider such factors as the customer’s age, net worth, risk tolerance, and investment experience. They may not misrepresent or omit material facts related to the product in a manner that might encourage clients to make unsuitable investments. Brokerage firms like Transamerica Financial Advisors have a supervisory duty to ensure that their brokers comply with these regulations. Brokers and firms who engage in misrepresentation and/or unsuitability may be subject to disciplinary action.
If you have complaints regarding William Byrd or Transamerica Financial Advisors, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recover your losses. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you recoup money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.