William Charles Schumann of Wheaton Illinois a stockbroker currently employed by H. Beck Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $63,000.00 in damages based upon accusations that Schumann made poor investment recommendations to the customer concerning mutual funds as well as a variable annuity and non-traded real estate investment trust and (2) Schumann placed the customer in investments that failed to conform to the customer’s objectives of maintaining liquidity and protecting principal. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-03629 (June 15, 2017).
FINRA Public Disclosure additionally confirms that on May 9, 2016, a customer filed an investment related arbitration claim involving Schumann’s activities where the customer requested $20,000.00 in damages supported by allegations that between 2015 and 2016, while Schumann was associated with H. Beck, Inc., the customer’s funds were held in a variable annuity that was not appropriate for the customer.
Schumann has been registered with H. Beck, Inc. since September 2, 2009.