Last Updated: November 2023 (Vero Beach, FL)
William King Investigation Summary
Here’s what you need to know about Vero Beach, FL, stockbroker William KIng:
- Name: Mr. William Worthen King
- Current Employer: Not currently registered with FINRA
- Previous Firms: Merrill Lynch, Pierce, Fenner & Smith
- Function: Stock Broker/ Financial Advisor
- Aliases: Bill King
- Primary Location: Vero Beach, FL
- CRD 1432593
- Can Bill King be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Terminated by prior employer: Yes
- Highest Settlement or Award: $212,500
- Eight Pending Customer Disputes Seek Damages of more than $5 million
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With William King As Your Stockbroker?
Bill King discloses that five cases brought by customers of Merrill Lynch have been settled. Allegations include failure to follow instructions, unauthorized trading and failure to act in the best interest of the client. More than $ 380,000 has been paid to resolve these customer complaints.
There are 8 currently pending claims for losses brought by customers of Merrill Lynch against Bill King. Alleged wrongdoing includes misrepresentation, unsuitable recommendations, unauthorized trading and unsuitable option trading. More than $5 million in damages is sought in these pending customer claims.
Bill King’s CRD discloses 12 customer disputes that have been denied, dismissed or withdrawn. The wrongdoing alleged in these cases is substantially identical to the wrongdoing in the cases that have been settled as well as the currently pending customer claims. Alleged damages on these cases are not specified.
It is not uncommon for financial firms to “deny” claims in the hope that the customer will not seek professional representation and not take steps to pursue the firm for damages caused by their broker. See below for more on what action we recommend for customers who have had their claims “denied”.
Bill King began his career with Merrill Lynch in 1985. In 4/2023 Bill King ‘voluntarily resigned’ from Merrill Lynch following allegations of unsuitable and unauthorized trading in certain client’s accounts.
Allegations of Broker Misconduct Against William King
Customers of Bill King have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to invest in options
- Unsuitable use of margin borrowing
- Unauthorized trading of options
- Failure to follow instructions to sell positions
- Failed to act in client’s best interest
- Failed to implement risk management strategies
- Misrepresented benefits of variable annuity
- Misrepresented benefits of equity indexed annuity
- Unauthorized use of margin borrowing
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 King, 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.
