William Beasley: Negligence Complaint Against BHK Advisor

Birmingham financial advisor William Beasley (CRD# 1750089) recently received an investor complaint alleging he mismanaged a customer’s account. Financial Industry Regulatory Authority records show that the BHK Securities broker and investment advisor was recently sanctioned by FINRA in connection to allegations of negligence.

Mr. Beasley’s BrokerCheck report discloses one investor complaint. Filed in June 2023, it alleged that as a representative of Morgan Stanley Smith Barney, he “did not act in [the] claimant’s best interest with respect to the management of [the] client’s account” between November 2018 and May 2021. The pending complaint alleges unspecified damages.

A second disclosure on Mr. Beasley’s BrokerCheck report concerns a FINRA sanction against him. Filed in 2022, the action alleged that he “caused his member firm to maintain inaccurate books and records by changing the representative code for trades, causing the trade confirmations to show an inaccurate representative code.” His allegedly negligent entry of trades under his personal representative code, in cases where he was servicing certain accounts under an agreement to enter trades with a code shared with the estate of a retired representative, “resulted in his receiving higher commissions from the trades than what he was entitled to receive pursuant to the agreement,” FINRA found. In connection with these findings, he was issued a fine of $2,5000 and suspended for one month.

A third disclosure on Mr. Beasley’s BrokerCheck report concerns his 2021 termination from Morgan Stanley Smith Barney. According to the disclosure, he was discharged in connection with allegations he “submitted transactions under production numbers that were inconsistent with agreements with other representatives resulting in a shortfall of revenue credited to the other representatives.”

According to the Financial Industry Regulatory Authority, William Beasley holds six years of securities industry experience. Based in Birmingham, Alabama, he has been a broker and an investment advisor with BHK Securities since 2021. His past registrations include Morgan Stanley, Citigroup Global Markets, Morgan Keegan & Company, Sterne Agee & Leach, and First Birmingham Securities Corporation. His credentials include the passage of eight securities industry qualifying exams: the Registered Options Principal Examination, or Series 4; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Sales Supervisor – General Module Examination, or Series 10; 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 licensed in Alabama, Florida, Georgia, North Carolina, and South Carolina. (Information current as of June 18, 2023.)

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