William Louis Baumner IV (also known as Bill Baumner) of Boca Raton Florida a stockbroker formerly employed by Buckman Buckman Reid Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought $67,000.00 in damages founded on accusations that the customer was provided with unsuitable investment advice pertaining to a private placement offering when Baumner was employed by Buckman Buckman Reid. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01484 (May 18, 2020).
According to the claim, the stockbroker’s breach of a contract and his gross negligence resulted in the customer’s losses. The claim also alleges that a fiduciary duty which was owed to the customer had been breached by Baumner.
FINRA Public Disclosure indicates that Baumner has been identified in thirteen additional customer initiated investment related disputes pertaining to allegations of his misconduct while employed by Invest Financial Corporation, Investors Capital Corp, Mutual Service Corp and Buckman Buckman Reid. On December 16, 2015, a customer filed an investment related complaint regarding Baumner’s activities in which the customer requested $100,000.00 in damages supported by allegations that the customer’s investment in CTX Virtual Technologies had been misrepresented.
On March 13, 2019, a customer filed an investment related arbitration claim involving Baumner’s conduct in which the customer requested $100,000.00 in damages based upon allegations that a fiduciary duty that was owed to the Buckman Buckman Reid customer had been breached in connection with the customer’s private placement purchase. FINRA Arbitration No. 19-00712. According to the claim, the customer was pressured to invest via a private placement after omissions had been made by Baumner concerning the investments. The claim also alleges that it was inappropriate for the customer to be placed in those securities.
On November 8, 2019, another customer initiated investment related arbitration claim in reference to Baumner’s conduct was resolved for $15,000.00 in damages based upon accusations that private placement transactions effected between 2012 and 2015 had failed to be suitable for the Buckman Buckman Reid customer. FINRA Arbitration No. 18-02506. Baumner has also been identified in a customer initiated investment related arbitration claim where the customer sought $1,550,000.00 in damages founded on accusations of negligence and the breach of fiduciary duty concerning a private placement sold while Baumner was employed by Buckman Buckman Reid. FINRA Arbitration No. 20-01007 (Apr. 6, 2020).
Baumner is the subject of another customer initiated investment related arbitration claim which was settled for $15,000.00 in damages based upon allegations that a private placement was unsuitable for the customer and had led the customer to experience unwarranted losses. FINRA Arbitration No. 18-03058 (Apr. 13, 2020). On May 18, 2020, another customer filed an investment related arbitration claim concerning Baumner’s activities where the customer sought $50,000.00 in damages founded on accusations of breach of contract and breach of fiduciary duty as it pertained to the Buckman Buckman Reid customer’s investments. FINRA Arbitration No. 20-01461 (May 18, 2020). The claim also alleges that Baumner provided unsuitable investment recommendations.
Baumner’s registration with Buckman Buckman Reid has been terminated as of May 25, 2017. Since April 25, 2019, he has been associated with Tradespot Markets Inc.
