William Frederick Fox (also known as Bill Fox and Billy Fox), of Austin, Texas, a stockbroker registered with LPL Financial LLC, was the subject of a customer initiated investment related “complaint” that was settled for $8,000.00 in damages on November 23, 2022, based upon alleged “poor performance in direct investments and real estate securities” recommended by Fox during the time that he was associated with First Allied Securities Inc.
This is not the first time that Fox has been accused of sales practice violations by a customer of a securities broker dealer. Accordomg to FINRA Public Disclosure, on March 12, 2021, a customer initiated investment related FINRA securities arbitration claim involving Fox’s conduct was settled for $25,000.00 in damages based upon allegations that Fox made unsuitable recommendations in variable annuities during the time that Fox was associated with First Allied Securities Inc. The customers also alleged breach of fiduciary duty, misrepresentation, and failure to supervise. FINRA Arbitration No. 19-03455.
Fox was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $365,000.00 in damages based upon allegations that Fox made misrepresentations of material fact and made unsuitable recommendations in equipment leasing products, annuities, direct investments (DPPs and LPs), real estate securities, and oil and gas investments when Fox was associated with New England Securities. FINRA Arbitration No. 19-03455 (March 22, 2021).
Fox has been associated with LPL Financial LLC in Austin, Texas since December 8, 2020.
