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Bill Horak: GWG Complaint Against Purshe Kaplan Sterling Advisor
Tallahassee financial advisor Bill Horak (CRD# 1462594) allegedly failed to uphold his duties in connection with GWG L bond investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is a broker with Purshe Kaplan Sterling and an investment advisor with Wealth Management Corporation.
Mr. Horak’s BrokerCheck report discloses two investor complaints. The most recent, filed in November 2022, alleges that as a representative of Purshe Kaplan Sterling, he acted negligently, breached his fiduciary duty, and breached contract in connection with investments in GWG L bonds. The pending complaint alleges damages of $160,000.
A second investor complaint, filed in June 2021, alleged that as a representative of Purshe Kaplan Sterling, he recommended an unsuitable investment in Hospitality Investors Trust, a real estate investment trust (REIT). The complaint alleged damages of $50,000 and was withdrawn.
According to the Financial Industry Regulatory Authority, Bill Horak holds 36 years of securities industry experience. Based in Tallahassee, Florida, he has been a broker with Purshe Kaplan Sterling since 2014 and an investment advisor with Wealth Management Corporation since 1990. His registration history includes Nationwide Investment Services Corporation (Columbus, Ohio; 1990-1996), FSC Securities Corporation (Atlanta, Georgia; 1990-1996), Boardwalk Capital Corporation (1988-1990), Integrated Resources Equity Corporation (1988), and Waddell & Reed (1986-1987). His credentials include the passage of four securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Alabama, California, Florida, Georgia, Michigan, North Carolina, Ohio, Oklahoma, Texas, and Virginia. (Information current as of December 26, 2022.)
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