William Louis Baumner IV of Boca Raton Florida a stockbroker formerly registered with Buckman Buckman Reid Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $10,000.00 in damages based upon allegations that the customer was placed into an unsuitable private placement investment while Baumner was associated with the firm. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03058 (Sept. 4, 2018).
FINRA Public Disclosure reveals that Baumner has been identified in nine additional customer initiated investment related disputes pertaining to accusations of his egregious actions while employed with Buckman Buckman Reid, Mutual Service Corp., Investors Capital Corp and Invest Financial Corporation. Specifically, a customer initiated investment related arbitration claim concerning Baumner’s conduct was resolved for $50,000.00 in damages founded on allegations that equity transactions executed in the customer’s account were not suitable for the customer. FINRA Arbitration No. 14-00579 (June 22, 2015).
Another customer filed an investment related complaint concerning Baumner’s activities in which the customer requested $100,000.00 in damages supported by accusations that misrepresentations had been made to the customer concerning the terms and conditions of CTX Virtual – a private placement held by the customer through 2016 which caused the customer losses. Thereafter, on December 11, 2017, a customer initiated investment related complaint involving Baumner’s activities was settled for $9,831.00 in damages based upon allegations that the customer was provided bad advice between 2012 and 2016 in reference to the equities held in the customer’s investment portfolio.
Further, a customer filed an investment related arbitration claim regarding Baumner’s conduct where the customer sought damages estimated to exceed $5,000.00 founded on accusations that the customer was sold private placement investments that were not appropriate given the customer’s financial profile, risk tolerance or objectives for investing. FINRA Arbitration No. 18-02506 (July 19, 2018).
FINRA Public Disclosure further confirms that Baumner was discharged by Buckman Buckman Reid on May 1, 2017 supported by allegations that Baumner engaged in communications with a customer in a manner which violated the firm’s policies. Since April 25, 2019, Baumner has been associated with TradeSpot Markets Inc.
