William Brian Wyman, of Palm Bay, Florida, a stockbroker formerly registered with Royal Alliance Associates, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to provide FINRA with information regarding his business activities. Case No. 2016050213701 (May 8, 2017).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Wyman has been identified in three customer initiated investment related disputes containing allegations of Wyman’s misconduct while employed with Royal Alliance Associates, Inc. Specifically, on September 30, 2010, a customer filed an investment related written complaint involving Wyman’s conduct, in which the customer sought $49,000.00 in damages based upon allegations that Wyman made misrepresentations to the customer concerning the features of a variable purchased by the customer.
Then, on December 16, 2016, another customer filed an investment related written complaint regarding Wyman’s activities, where the customer requested $97,500.00 in damages supported by allegations that Wyman effected private placement transactions that failed to be suitable for the customer. Apparently, Wyman persuaded the customer to purchase four hundred and fifty shares of a pool bar, Poolies – an investment which poorly performed.
Wyman was then named in a customer initiated investment related civil action, where the customer requested $97,500.00 in damages based upon allegations that Wyman negligently handled the customer’s investment account, and sold securities away from Royal Alliance Associates. Case No. 05-2017-CA-011925 (Jan. 17, 2017).
Wyman’s registration with Royal Alliance Associates, Inc. was terminated as of February 18, 2016. He was later associated with Ameriprise Financial Services, Inc. from February 16, 2016 to November 29, 2016.
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