William Lefkowitz: $1mm Complaint Against B. Riley Advisor

A recent investor complaint against New York City financial advisor William Lefkowitz (CRD# 1170503) alleges that his conduct resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Aegis Capital and B. Riley Wealth Management, and as an investment advisor with B. Riley.

Mr. Lefkowitz’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in 2025, alleges that as a representative of B. Riley Wealth Management, he charged excessive commissions in connection with options investments. The pending complaint alleges damages of $1 million.

In a statement included with the complaint’s disclosure, Mr. Lefkowitz defended himself against the allegations, which he described as stemming from a customer with two accounts with him. “We discussed all of the strategies used in both accounts,” he wrote. “We had discussed commissions and fees regarding both accounts. At the client’s request, we even reviewed the accounts during weekend hours at times. I wanted to provide her with exceptional service at all times. Right up until I was informed that the accounts were being transferred to another firm, I believed the client was not only satisfied but was actually very pleased with the way the accounts were being managed.”

A second investor complaint, filed in 2024, alleges that as a B. Riley representative, he recommended an unsuitable investment in Playboy. The pending complaint alleges damages of $152,235.

According to the Financial Industry Regulatory Authority, William Lefkowitz holds 40 years of securities industry experience. Based in New York City, he has been registered as a broker with Aegis Capital since June 2026, and as a broker and investment advisor with B. Riley since 2022 and 2026, respectively. His past registrations include National Securities Corporation, VFinance Investments, Ehrenkrantz King Nussbaum, Weatherly Securities Corporation, CIBC Oppenheimer Corporation, Shearson Lehman Hutton, Merrill Lynch, and EF Hutton & Company. His credentials include the passage of seven securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; the Uniform Securities Agent State Law Examination, or Series 63; the Registered Options Principal Examination, or Series 4; the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; and the Operations Professional Exam, or Series 99TO. He holds 35 state licenses. (Information current as of June 6, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.