Last Updated: December 2023 (Tallahassee, Florida)
Bill Horak Investigation Summary
Here’s what you need to know about Tallahassee, FL, stockbroker Bill Horak:
- Name: Mr. William Stuart Horak
- Current Employer: Purshe Kaplan Sterling, Wealth Management Corporation (RIA)
- Previous Firms: Nationwide Investment Services, FSC Securities Corp.
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Bill Horak
- Primary Location: Tallahassee, FL
- CRD 1462594
- Can Bill Horak be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $70,000
- Pending Customer Dispute Seeks Damages of $199,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Bill Horak As Your Stockbroker?
In 9/2023 a customer of Purshe Kaplan Sterling Investments was paid $70,000 to resolve allegations that Bill Horak recommended GWG L-Bonds.
GWG Holdings has filed for bankruptcy. See this for current information on GWG L-Bond Litigation. Overwhelmed by GWG Losses Some Broker Dealers Are Shutting Down
In 5/2023 a customer of Purshe Kaplan filed a FINRA arbitration alleging that Bill Horak made an unsuitable recommendation to invest in GWG Bonds causing losses of 199,000. This matter is currently pending.
In 6/2023 a customer of Purshe Kaplan filed a FINRA arbitration alleging that Bill Horak made unsuitable recommendations to invest in two alternative investments, ARC Hospitality Trust and ARC Realty Finance Trust, causing losses of $50,000. This matter is currently pending.
In 2021 another Purshe Kaplan customer made a complaint with the company alleging that Horak’s recommendation to invest in Hospitality Investors Trust REIT was unsuitable and caused losses of $50,000. The company “denied” the claim and apparently the customer did not pursue the matter further. See below our advice if a broker-dealer “denies” your claim for losses.
Allegations of Broker Misconduct Against Bill Horak
Customers of Bill Horak have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to invest in GWG Bonds
- Unsuitable Investment Recommendation to invest in alternative investments
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally have higher risk.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Has Your Brokerage Firm “Denied” Your Claim for Damages Due to Stockbroker Malpractice?
It is quite common, as well as predictable, for brokerage firms to deny a customer’s complaint made directly to the company. Firms know that in many, if not most, instances telling the customer “we don’t think it’s our fault” will be an end to the problem. In other words, it’s generally a waste of your time to sit down with the office manager & the broker.
Firms seldom, if ever, offer any resolution when a customer deals directly with them, or if they do, will attempt to have you settle your case for a fraction of what it is actually worth.
We suggest that if you think there is a problem with the way your account has been handled, or if you have had your claim “denied”, talk to an experienced securities attorney.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Bill Horak, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
