William Robert Young (also known as Bill Young) of Bethesda Maryland a stockbroker formerly registered with H. Beck Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $123,000.00 in damages based on accusations that Young caused them to invest in unsuitable securities including real estate investment trusts (REITs) and business development companies (BDCs) during the time that he was associated with H. Beck. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-04152 (Jan. 28, 2021). According to the claim, Young misrepresented the risks of those investments.
FINRA Public Disclosure shows that Young has been identified in two more customer initiated investment related disputes containing allegations of his wrongdoing while he was employed by Kingwood Capital Partners LLC and H. Beck. On September 23, 2019, a customer initiated investment related FINRA securities arbitration claim concerning Young’s activities was settled for $24,000.00 in damages supported by accusations that energy investments and REITs were sold to the customer when they asked for principal preservation. FINRA Arbitration No. 18-04151. The claim alleges that the customer’s account had been overconcentrated in risky investments from April of 2012 to October of 2018, and that high commissions were charged on the transactions.
Young is referenced in another customer initiated investment related written complaint on October 1, 2020 in which the customer requested compensatory damages founded on allegations of unsuitable unit investment trusts and real estate investment trusts from July of 2012 to August of 2020 when Young was associated with Kingswood Capital Partners and H. Beck.
Young has also been fined $5,000.00 and suspended from associating with any FINRA member in any capacity based upon findings of Young maintaining unauthorized securities accounts while registered with TD Ameritrade Inc. Letter of Acceptance Waiver and Consent No. 2008014271201. Young violated National Association of Securities Dealers (NASD) Rules 3050 and 2110.
He was also terminated by prior securities broker dealer United Brokerage Services Inc. based on accusations of committing multiple infractions of the firm’s procedures and policies.
Young has been registered as a stockbroker of Kingswood Capital Partners since June 15, 2018, and registered as an investment adviser representative of Kingswood Wealth Advisors LLC since March 15, 2018.
