Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 12, 2017 indicate that Missouri-based Stifel Nicolaus & Company broker/adviser William McWilliams has been sanctioned by FINRA. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. McWilliams.
William McWilliams has spent nine years in the securities industry and has been registered with Stifel Nicolaus & Company in Columbia, Missouri since 2015. Previous registrations include Raymond James Financial Services in Jefferson City, Missouri (2013-2015) and Waddell & Reed in Springfield, Missouri (2007-2013). He has passed two securities industry examinations: Series 66 (Uniform Combined State Law Examination) and Series 7 (General Securities Representative Examination). He is a registered broker and investment adviser wth twelve US states and territories: Alabama, California, Colorado, Kansas, Missouri, New Mexico, New York, Oregon, Oklahoma, Texas, Virginia and Washington.
According to his BrokerCheck report, William McWilliams has been sanctioned by FINRA and was terminated from his former employer.
In May 2017 FINRA sanctioned him following allegations he “exercised discretionary trading authority in response to customer liquidation requests in customers’ accounts without obtaining prior written authorization from the customers and without having the accounts accepted as discretionary accounts by his member firm.” FINRA’s findings also stated that Mr. McWilliams exercised discretionary trades in other customers’ accounts, and that in such instances, he “failed to discuss the subject trades with the customers on the day of the transaction and the firm prohibited the use of discretion in these circumstances.” He was issued a fine of $7,5000 and a 10-day suspension which will commence on June 5, 2017.
In 2015 he was terminated from his position at Raymond James Financial Services following allegations he violated the firm’s policy on time and price discretion, and that he offered advice to a customer on a private securities offering, at the client’s request, which was not approved by the firm.
If you have lost money investing with William McWilliams, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. 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.