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William Platt: GPB Complaint Against NYC Momentum Advisor
William Platt (CRD# 4558339), a financial advisor in New York City, has received an investor complaint concerning an investment in GPB Capital. Financial Industry Regulatory Authority records show that he is a broker and investment adviser with Purshe Kaplan Sterling and Momentum Advisors, respectively.
Mr. Platt’s BrokerCheck report discloses one investor complaint. Filed in December 2020, it alleges that his registered investment advisory, Momentum Advisors, misrepresented an investment in GPB Waste Management LP and the Vida Longevity Fund. The pending complaint alleges unspecified damages.
In a statement on the pending complaint’s disclosure, Mr. Platt wrote that the investments’ performance were not “the result of any kind of act or misrepresentation” by him or Momentum Advisors. Adding that the client is “very sophisticated” and requested private investment funds for their consideration, he said he “presented the client with documents describing each of four proposed fund investments, including the corresponding risks, for their review and consideration.” According to his comment, the client “chose two funds, executed a Subscription Agreement for each of the funds, acknowledging the risks, including, but not limited to, that each was illiquid, and there was potential for complete loss of the investment amount.” Mr. Platt noted that neither he nor Momentum Advisors “made any representations regarding either of the funds except as set forth in the documents provided.”
According to the Financial Industry Regulatory Authority, William Platt holds 19 years of securities industry experience. Based in New York City, he has been a broker with Purshe Kaplan Sterling since 2014 and an investment advisor with Momentum Advisors since 2015. His past registrations include American Portfolios Financial Services (New York City; 2010-2014) and MML Investors Services (New York City; 2002-2010). His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; and the Securities Industry Essentials Examination, or SIE. He is licensed in the District of Columbia, Illinois, Massachusetts, Nevada, New Jersey, New York, Pennsylvania, Texas, and Virginia. (Information current as of June 27, 2022.)
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