William Burke: REIT Complaint Against Trinity Advisor

Southlake, Texas financial advisor William Burke (CRD# 5499442) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker with TPEG Securities, which is affiliated with Trinity Investors.

Mr. Burke’s BrokerCheck report discloses one investor complaint. Filed in August 2026, it alleges that as a representative of TPEG Securities, he misrepresented and recommended unsuitable private placements, non-traded real estate investment trusts (REITs), and other alternative investments. The pending complaint alleges unspecified damages.

FINRA has issued multiple investor alerts regarding real estate investment trusts, or REITs. As these materials note, there is particular risk associated with non-traded REITs: that is, products which are not traded on national stock exchanges. “For this reason, non-traded REITs are generally illiquid, often for periods of eight years or more,” states a 2016 investor alert. The resource goes on to explain how non-traded REITs may have limited early redemption opportunities, high fees, and distributions that “include a return of investor principal.” The alert cautions investors to consider that non-traded REITs “are rarely, if ever, suitable for short-term investors,” and pose significant illiquidity risks for long-term investors. According to an earlier investor alert, issued in 2011, distributions from non-traded REITs “are not guaranteed and may exceed operating cash flow.” Furthermore, that alert states, distributions may be suspended or even “halted altogether.” Brokers or firms who recommend unsuitable non-traded REITs may be held liable for damages.

According to the Financial Industry Regulatory Authority, William Burke holds 18 years of securities industry experience. Based in Southlake, Texas, he has been registered as a broker with TPEG Securities, which is affiliated with Trinity Investors, since 2008. His credentials include the passage of six securities industry qualifying exams: the Introducing Broker/Dealer Financial Operations Principal Examination, or Series 28; the Securities Industry Essentials Examination, or SIE; the Operations Professional Examination, or Series 99TO; the Investment Banking Registered Representative Examination, or Series 79TO; the General Securities Representative Examination, or Series 7; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 10 state licenses. (Information current as of October 4, 2026.)

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