$650K Complaint Against Flower Mound Rep William Burks

Centaurus Financial stockbroker and investment adviser William Burks (CRD# 2944992), registered with the firm’s branch office in Flower Mound, Texas, has been involved in settled, pending, and denied investor complaints. According to public records maintained by the Financial Industry Regulatory Authority, one recent complaint against William Burks (also known as Bill Burks) alleges more than half a million dollars in losses. 

William Burks’ BrokerCheck report, a record available to the public, discloses three pending customer complaints against him. All three were filed in 2021 and concern his activities as a Centaurus Financial representative. One complaint states he over-concentrated the account in unsuitable investments, alleging damages of $650,000. A second complaint states he recommended unsuitable and high-risk investments, alleging unspecified damages that may exceed $5,000. A third complaint states he misrepresented investments that did not perform as anticipated, also alleging damages that may exceed $5,000. William Burks has denied the allegations in these three complaints, which are all still pending.

There are also four settled customer complaints disclosed on William Burks’ BrokerCheck report, all filed by customers of Centaurus Financial 2013 and 2021. They include allegations of unauthorized transactions, unsuitable investments and investment strategies, misrepresentation, and breach of fiduciary duty. The complaints settled for a total sum of more than $110,000.

According to the Financial Industry Regulatory Authority, William Burks (also known as Bill Burks) holds 24 years of securities industry experience. He has been registered with Centaurus Financial in Flower Mound, Texas as a broker since 2000 and as an investment adviser since 2011. Before he was registered with Centaurus Financial, he was registered with PFS Investments’ Duluth, Georgia office from 1997 to 2000. He has passed the Uniform Investment Adviser Law Examination, the Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the General Securities Representative Examination, the Investment Company Products/Variable Contracts Representative Examination, and the Investment Company Products/Variable Contracts Principal Examination. He is licensed in Arizona, California, Idaho, Louisiana, New Hampshire, North Carolina, Tennessee, and Texas. (Information current as of November 14, 2021.)