William Charles Schumann of Rockville, Maryland, a stockbroker registered with H. Beck Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $87,500.00 in damages based upon allegations that Schumann made unsuitable investment recommendations and failed to perform due diligence in connection with the recommendation and sale of certain direct investments, including oil and gas investments aand real estate securities when Schumann was associated with H. Beck Inc. FINRA Arbitration No. 19-00383 (Jan. 8, 2020).
FINRA Public Disclosure shows that Schumann is referenced in other customer initiated investment related disputes concerning Schumann’s conduct while associated with securities broker dealers, including H. Beck Inc.. On May 9, 2016, a customer filed an investment related complaint involving Schumann’s conduct in which the customer requested $20,000.00 in damages based upon allegations that Schumann made unsuitable transactions with regard to the recommendation and sale of variable annuities during the time that Schumann was associated with H. Beck Inc..
On June 15, 2017, a customer initiated investment related FINRA securities arbitration claim involving Schumann’s conduct was settled for $27,000.00 in damages based upon allegations that Schumann made unsuitable recommendations in connection with the sale of variable annuities mutual funds real estate securities when Schumann was associated with H. Beck Inc. FINRA Arbitration No. 16-03629.
William Schumann was associated with H. Beck Inc. in Rockville, MD, as an investment advisor representative from January 26, 2015 to April 1, 2021. He has been associated with Grove Point Investments LLC, in Wheaton, IL, as a stockbroker since September 2, 2009, and associated with Grove Point Advisors LLC as an investment advisor representative since April 1, 2021.
