William Robert Young (also known as Bill Young) of Rockville Maryland a stockbroker and investment adviser representative of Kingswood Capital Partners LLC is the subject of a customer initiated investment related complaint on October 1, 2020 in which the customer sought more than $5,000.00 in damages supported by accusations that the customer had been sold unsuitable unit investment trusts and real estate investment trusts during the period that Young was associated with H Beck Inc. and Kingswood Capital Partners.
This is not the first time that Young has been accused of sales practice violations by an investor. Financial Industry Regulatory Authority (FINRA) Public Disclosure also confirms that a customer initiated investment related FINRA securities arbitration claim concerning Young’s activities was resolved for $24,000.00 in damages founded on allegations that high-commission energy investments and inappropriate real estate investment trust transactions were executed in the H Beck customer’s account because of Young. FINRA Arbitration No. 18-04151 (Sept. 23, 2019). The claim alleges that the customer sought preservation of principal but their account had been overconcentrated in risky investments by Young.
Young has been fined $5,000.00 and suspended for one month from associating with any FINRA member in any capacity based upon findings that he concealed outside investment accounts from TD Ameritrade Inc. According to the AWC, Young falsely completed compliance questionnaires which called upon him to provide information about outside brokerage accounts. FINRA determined that Young violated National Association of Securities Dealers (NASD) Rules 3050 and 2110.
Young has been registered with Kingswood Capital Partners as a stockbroker since June 15, 2018 and as an investment adviser representative since March 15, 2018.
