Garden City, New York financial advisor (CRD# 5225102) has received multiple investor complaints alleging that his investment recommendations led to...Read More
Mark Williams: $100K Complaint Against Financial Gravity Advisor
Carmel-by-the-Sea financial advisor Mark Williams (CRD# 4061842) has received investor complaints alleging he recommended unsuitable and risky investments. Financial Industry Regulatory Authority records show that he is a broker with Kingswood Capital Partners and an investment advisor with Financial Gravity Family Office Services.
Mr. Williams’ BrokerCheck report discloses two investor complaints. The most recent, filed in April 2022, alleges that as a representative of Financial Gravity Family Office Services, Forta Financial Group, and Centaurus Financial, he “recommended unsuitable, high-risk investments and breached his fiduciary duty.” The pending complaint alleges unspecified damages.
An earlier investor complaint, filed in March 2022, alleges that as a representative of Centaurus Financial, he “made a poor recommendation of a speculative, high risk and illiquid investment” in a corporate bond product. The pending complaint alleges damages of $100,000.
In identical comments on each complaint’s disclosure, Mr. Williams “vehemently” denied the allegations against him, asserting that the allegations were meritless. “The investments about which the customer complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after their review of all material documentation related to the investment,” he wrote, adding that the customers “confirmed” they received the investment disclosures and understood the risks. “I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law,” he concluded.
According to the Financial Industry Regulatory Authority, Mark Williams holds 22 years of securities industry experience. Based in Carmel-by-the-Sea, he has been a broker with Kingswood Capital Partners and an investment advisor with Financial Gravity Family Office Services since 2021. His past registrations include Forta Financial Group, Centaurus Financial, JP Turner & Company, QA3 Financial Corporation, FSC Securities Corporation, Advantage Capital Corporation, and Merrill Lynch. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Arizona, California, Delaware, Florida, Idaho, Indiana, Louisiana, Minnesota, Nevada, New Mexico, North Carolina, Oregon, Texas, Utah, and Washington. (Information current as of September 3, 2022.)
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