Raymond James Advisor William Seibert: Complaint Settles for $897K

Houma, Louisiana financial advisor William Seibert (CRD# 2710335) recently received an investor complaint alleging he recommended unsuitable oil and gas products. Financial Industry Regulatory Authority records show that the Raymond James & Associates broker has also received an investor complaint that recently settled for more than $800,000.

Mr. Seibert’s BrokerCheck report discloses two investor complaints. The most recent, filed in January 2023, alleges that as a representative of Raymond James & Associates, he recommended “unsuitable and purportedly high-risk oil and gas investments.” The pending complaint alleges unspecified damages estimated to exceed $5,000.

An earlier investor complaint, filed in 2020, alleged that while he was a Raymond James & Associates representative, he recommended unsuitable oil and gas products, “engaged in reverse churning,” and failed to disclose the use of margin in a customer’s account. In October 2022 the complaint reached a settlement of $897,500.

According to the Financial Industry Regulatory Authority, William Seibert holds 26 years of securities industry experience. Based in Houma, Louisiana, he has been a broker and an investment advisor with Raymond James & Associates since 2013. His past registrations include Morgan Keegan & Company (Houma, Louisiana; 2005-2013), Wells Fargo Investments (San Francisco, California; 2001-2005) Wells Fargo Brokerage Services (Minneapolis, Minnesota; 2001-2002), Pritchard Capital Partners (Covington, Louisiana; 2001), and Bank United Securities (Houston, Texas; 1996-2001). His credentials include the passage of six securities industry qualifying exams: the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Representative Examination, or Series 7; 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 currently holds 48 state licenses. (Information current as of January 29, 2023.)

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