William Bryson Baum of Overland Park Kansas a stockbroker currently registered with Great American Investors Inc. is the subject of a customer initiated investment related arbitration claim which has been settled for $52,500.00 in damages supported by allegations that stock and options trades that were facilitated in the customer’s account by Baum failed to be suitable because of the customer’s investment circumstances or risk tolerance when the stockbroker was employed by Great American Investors. (FINRA) Arbitration No. 19-01287 (Nov. 22, 2019).
FINRA Public Disclosure reveals that Baum has been referenced in seven more customer initiated investment related disputes concerning accusations of Baum’s improprieties when the stockbroker was associated with securities broker dealers including General Securities Corporation and Great American Investors. Particularly, a customer initiated investment related arbitration claim in reference to Baum’s conduct resulted in the customer being awarded $7,750.00 in compensatory damages based upon Baum and General Securities Corporation being found liable on the customer’s claims which included that fiduciary obligations to the customer were breached; and the customer’s investments were liquidated without any approval from the customer.
Another customer initiated related arbitration claim involving Baum’s conduct was settled for $112,500.00 in damages based upon allegations that when Baum was associated with Great American Investors, the customer’s account was mismanaged by the stockbroker because of overconcentrated options and equities positions. (FINRA) Arbitration No. 16-00664 (Mar. 17, 2017). Baum is additionally referenced in a customer initiated investment related complaint which has been resolved on November 19, 2019 for $20,000.00 in damages founded on accusations that the customer was provided with bad investment recommendations; transactions failed to be suitable for the customer given the customer’s risk tolerance, investment goals or overall situation; and omissions were made by the stockbroker regarding penny stocks, options and over the counter equities transactions effected in the customer’s account when Baum was employed by Great American Investors.
FINRA Public Disclosure confirms that Baum has been fined $5,000.00 and suspended from associating with any FINRA member in any capacity founded on findings that the stockbroker utilized unauthorized communication channels to conduct investment related business when he was employed by Great American Investors. Letter of Acceptance Waiver and Consent No. 2015048070901 (July 25, 2017).
Baum has been associated with Great American Investors since December 3, 2001.
