Roy Alvin Williams Sr., of Stratford, Connecticut, a stockbroker associated with Center Street Securities Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $42,000.00 in damages based upon allegations that Williams made unsuitable recommendations of GWG L Bonds when Williams was associated with Center Street Securities Inc. FINRA Arbitration No. 22-01258 (June 8, 2022).
FINRA Public Disclosure shows that Williams was referenced in seven other customer initiated investment related disputes concerning Williams’s conduct while associated with securities broker dealers. On December 22, 2011, a customer initiated investment related FINRA securities arbitration claim involving Williams’s conduct was settled for $47,500 in damages resulting from the purchase of illiquid direct investments during the time that Williams was associated with EDI Financial Inc. FINRA Arbitration No. 11-02434.
On December 6, 2011, another customer filed an investment related complaint involving Williams’s conduct in which the customer requested $62,666.34 in damages based upon allegations that Williams made unsuitable recommendations of Behringer Harvard REIT I and Gemini. The complaint was ultimately withdrawn on January 5, 2012.
Williams was also referenced in a customer initiated investment related complaint filed on March 10, 2017, in which the customer requested $30,000.00 in damages based upon allegations that Williams did not disclose a legal matter affecting Payson Petroleum 3 Well 2014 LP prior to the customer’s subscription into the private placement. The customer also alleged negligence, misrepresentation concerning the pending legal matter, and questioned the suitability of the overall investment recommendation by Williams during the time that he was associated with EDI Financial Inc. The customer’s complaint was denied.
On October 25, 2018, a customer initiated investment related FINRA securities arbitration claim involving Williams’s conduct was settled for $25,000.00 in damages based upon allegations that Williams did not sufficiently investigate UDF REITs, which were purchased by the customer in 2013 during the time that Williams was associated with EDI Financial. FINRA Arbitration No. 16-03120.
Williams was also referenced in another customer initiated investment related FINRA securities arbitration claim that was settled for $52,000.00 in damages on September 1, 2021. The allegations were that Williams did not perform enough due diligence and made unsuitable investment recommendations concerning alternative investments during the time that he was associated with Center Street Securities Inc. FINRA Arbitration No. 20-01632.
Williams has been associated with KCD Financial Inc. in Stratford, Connecticut as a stockbroker since July 31, 2023, and as an investment adviser representative since August 23, 2023. He was associated with Center Street Advisors Inc. in Stratford, Connecticut from March 6, 2017, to August 7, 2023, and with Center Street Securities Inc. from October 27, 2016, to August 7, 2023.
