William Gregory Barker of Tallahassee Florida a stockbroker formerly registered with Ameriprise Financial Services is the subject of a customer initiated investment related written complaint which had been resolved for $46,000.00 on May 23, 2019 supported by accusations that: (1) unit investment trust and equity transactions executed in the customer’s account were inappropriate for the customer (2) margin had been improperly utilized to effect securities transactions and (3) trades were effected in the customer’s investment account on an excessive basis during the time Barker was employed by Ameriprise Financial Services Inc.
FINRA Public Disclosure reveals that Barker has been identified in fifteen additional customer initiated investment related disputes containing allegations of his misconduct while employed with securities broker dealers including Raymond James Associates Inc., A.G. Edwards and Ameriprise Financial Services. In particular, on August 4, 2016, a customer filed an investment related complaint concerning Barker’s conduct where the customer sought $18,500.00 in damages founded on accusations that while Barker was registered with Ameriprise Financial Services Inc., a margin account had been set up without the customer’s consent, and unauthorized trades were executed in the customer’s account which caused the customer to suffer unwarranted investment loses.
On February 1, 2017, another customer filed an investment related complaint regarding Barker’s activities in which the customer requested $211.000.00 in damages based upon allegations that the customer’s account was churned; margin had been utilized without the customer’s permission; and unauthorized mutual fund and over-the-counter equities trades were effected in the customer’s investment account. Then, on December 23, 2017, a customer initiated investment related complaint involving Barker’s conduct was settled for $25,000.00 in damages supported by accusations that unauthorized transactions were executed in the customer’s brokerage account; and unit investment trust and mutual fund trades had been effected in the customer’s account in an excessive manner.
Subsequently, a customer initiated investment related arbitration claim concerning Barker’s activities was resolved for $250,000.00 in damages founded on allegations that in reference to a margin loan and the customer’s municipal debt holdings: transactions were violative of Florida securities laws; the customer’s investment portfolio had been churned; trades were executed in excessive amounts; false or misleading statements and omissions had been made to the customer; the customer’s brokerage account had been handled with poor care; trades placed in the customer’s investment account were not suitable for the customer; and fiduciary duties which were owed to the customer had been violated. FINRA Arbitration No. 14-03772 (Apr. 25, 2017).
Further, on August 29, 2017, a customer initiated investment related complaint concerning Barker’s conduct was settled for $50,000.00 in damages based upon accusations of unsuitability and excessive trading with regard to the customer’s positions in foreign equities, mutual funds, stocks and municipal debt investments during the time Barker was employed by Raymond James. Then, on November 17, 2017, a customer initiated investment related complaint regarding Barker’s activities was settled to resolve allegations that unit investment trust and mutual fund transactions were executed in the customer’s account on an unauthorized, excessive and unsuitable basis.
Moreover, Barker is referenced in a customer initiated investment related arbitration claim which was settled for $75,000.00 in damages supported by accusations of the customer’s order tickets being mismarked; unsuitable unit investment trust, mutual fund and annuity products being sold to the customer; and fiduciary duties being violated which caused the customer’s losses. FINRA Arbitration No. 18-01700 (Apr. 2, 2019).
