Private Placement Complaint Against Bill Braun, Boca Raton Advisor

Bill Braun (CRD# 1271500), a financial advisor with B. Riley Wealth Management, has received multiple investor complaints alleging he recommended unsuitable investments and engaged in other forms of misconduct. Records provided by the Financial Industry Regulatory Authority show that he is a broker and an investment advisor based in Boca Raton, Florida.

Complaints Alleged Unsuitable Investments, Negligence

Mr. Braun’s BrokerCheck report discloses seven investor complaints received in the last few years. Six complaints filed between 2019 and 2021 alleged he breached his fiduciary duty, recommended unsuitable investments, and acted negligently, settling for a total of $149,000. (For reference, an investment’s “suitability” denotes its appropriateness for an investor’s unique investment profile, which includes such factors as their age, net worth, income, investment experience, and investment goals. FINRA rules require brokers to recommend only suitable investments and strategies.) A seventh complaint, filed in October 2022, alleges that as a representative of National Securities, he recommended an unsuitable private placement. The pending complaint alleges damages of $200,000.

Braun Denied Allegations

Disclosures on Mr. Braun’s BrokerCheck report describe his denial of the claims against him. “The matter was settled to avoid incurring additional attorney’s fees, FINRA fees and the uncertainties of litigation,” he commented on five of the six settled complaints, adding that he “adamantly denies any and all” of the allegations contained therein. “The representative did not contribute to the settlement and intends to seek expungement relief at the earliest opportunity pursuant to FINRA Rule.”

FINRA: Braun Currently Based in Boca Raton

According to the Financial Industry Regulatory Authority, Bill Braun has spent 38 years working as a broker. Based in Boca Raton, Florida, he has been a broker and an investment advisor with B. Riley Wealth Management since 2022 and 2017, respectively. Before joining B. Riley, he was a broker with National Securities Corporation from 2007 until 2022. His registration history also includes Janney Montgomery Scott, JWGenesis Securities, Corporate Securities Group, and Vantage Securities of Colorado. Having passed five securities industry qualifying exams, he holds 20 state licenses. (Information current as of November 25, 2022.)

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