Scott Douglas Williams of Franklin Tennessee a stockbroker formerly registered with Raymond James Financial Services Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $125,000.00 in damages founded on accusations that unsuitable stock recommendations had been made by Williams for the customer’s Raymond James Financial Services account. FINRA Arbitration No. 20-01816 (Feb. 11, 2021).
Williams has been identified in two additional customer initiated investment related disputes containing allegations of his wrongdoing while employed by LPL Financial and JJB Hilliard WL Lyons LLC. FINRA Public Disclosure confirms that a customer filed an investment related complaint involving Williams’ conduct where the customer sought $112,010.94 in damages supported by accusations that the stockbroker failed to comply with the customer’s instructions. The claim alleges that the customer’s Hilliard Lyons account sustained losses because of Williams.
Williams is the subject of another customer initiated investment related FINRA securities arbitration claim which was settled for $61,050.00 in damages based upon allegations that penny stocks and equities had been churned in the customer’s account at LPL Financial. FINRA Arbitration No. 19-00481 (May 15, 2019). According to the claim, unsuitable trades were made by Williams between March of 2017 and March of 2018. The claim alleges that the customer was required to pay excessive commissions because of Williams.
Williams’ registration with Raymond James Financial Services was terminated on February 27, 2017. On July 10, 2018, Williams was discharged by LPL Financial founded on accusations that he violated the company’s policy as it pertained to discretionary trades.