Bill King: $500K-$750K Complaint Against Ex-Merrill Advisor

Several recent investor complaints against former Vero Beach financial advisor Bill King (CRD# 1432593) allege that an options trading strategy led to six- or seven-figure losses. Financial Industry Regulatory Authority records show that he was most recently registered as a broker and an investment advisor with Merrill Lynch.

Mr. King’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in July 2023, alleges that as a Merrill Lynch representative, he misrepresented and recommended an unsuitable options trading strategy. The pending complaint alleges damages between $500,000 and $750,000.

A second investor complaint, also filed in July 2023, alleged unauthorized trading, unsuitable investment recommendations, and misrepresentations of material facts relating to options investments. The pending complaint alleges damages of $4 million.

A third investor complaint, filed in May 2023, alleged that he recommended unsuitable options trading and used margin while at Merrill Lynch. The complaint reached a settlement of $150,000.

A fourth investor complaint, filed in 2022, alleged that he failed to follow instructions. In 2023 the complaint reached a settlement of $20,000.

A fifth investor complaint, also filed in 2022, alleged that he made unauthorized options trades between June and September 2022. In May 2023 the complaint reached a settlement of $100,000.

A sixth investor complaint, filed in August 2022, alleged that he unsuitably enrolled the account in a managed strategy without implementing risk management strategies, exposing the portfolio to market volatility. In June 2023 the complaint reached a settlement of $212,500.

Mr. King’s BrokerCheck report also discloses his resignation from Merrill Lynch. In April 2023 he voluntarily resigned from the firm in connection with “allegations of unsuitable and unauthorized trading in certain clients’ accounts.”

According to the Financial Industry Regulatory Authority, Bill King holds 37 years of securities industry experience. He was most recently registered as a broker with Merrill Lynch in Vero Beach, Florida from 1985 until 2023. His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is not registered with any firm or licensed with any state.  (Information current as of October 22, 2023.)

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