William King of Merrill Lynch Resigns Amid Unsuitable Investment Claims

Did William Worthen King Cause You Investment Losses? William W. (Bill) King, a prominent broker at Merrill Lynch, has resigned from the company following a surge in client complaints. King has faced allegations from at least ten customers since August. These individuals voiced their concerns over account mismanagement, specifically citing unsuitable investments and unauthorized trading of options positions. The disputes are currently under review, as reported by BrokerCheck. If you believe you have a claim against William King, you should strongly consider hiring an investment fraud lawyer. Do not wait until it’s too late to file a claim. The Law Offices of Robert Wayne Pearce, P.A., offers free consultations. Give us a call at 800-732-2889. Let’s discuss your case and see what we can do to help you get the compensation you need and deserve. William King Formerly With Merrill Lynch, Pierce, Fenner & Smith Incorporated Has 18 Customer Complaints For Alleged Broker Misconduct Who is William King formerly with Merrill Lynch, Pierce, Fenner & Smith Incorporated? William King (CRD #1432593) is a broker and investment advisor who was formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated. He is currently a subject under investigation for securities industry sales practice abuse. Investment Losses? Let’s Talk. or, give us a ring at 800-732-2889. William King Customer Complaints William King has been the subject of 18 customer complaints that we know about to recover investment losses. Four of the customer complaints were settled by his employer in favor of the investors. Merrill Lynch denied 5 of the customer complaints.  To date, the customers have not taken any further action. There are 9 other customer complaints made within the last year relating to option transactions that are still pending. A Summary of Recent News Around Merrill Lynch Broker, William W. (Bill) King A well-known Merrill Lynch broker, William W. (Bill) King, who operated from Vero Beach, Florida, and New York, has recently resigned from the firm amid a significant increase in client complaints. Since August, a minimum of ten customers have come forward with grievances, expressing concerns over the mismanagement of their accounts, particularly relating to claims of unsuitable or unauthorized trading of options positions. These disputes are currently pending review, according to information obtained from BrokerCheck. Bill King, boasting an impressive 37-year tenure at Merrill Lynch, made the decision to voluntarily resign on April 21. Recognized for his expertise as an “international” broker, with a specific focus on serving foreign clients, King successfully managed a substantial $1.4 billion in client assets, an achievement acknowledged by Forbes. In fact, Forbes ranked him at #166 on their prestigious list of top wealth advisors in 2022, while also including him in their best-in-state wealth management teams list for this year. Furthermore, King consistently appeared among Barron’s top 1,200 financial advisors from 2018 to 2022, as confirmed by his former team webpage on Merrill’s platform. This recent departure by King aligns with a disconcerting trend observed among several prominent brokers who often secure positions on industry lists, only to later encounter regulatory issues or face client complaints. Notably, King already had six customer disputes on record, covering the period from 1999 to 2014. However, it is worth mentioning that four of those disputes were either resolved without any action or withdrawn. Just because Merrill Lynch rejects your complaint doesn’t mean your claim is invalid. Merrill Lynch has a history of legal action and regulatory scrutiny for investment losses. So, it’s important to know that their rejection doesn’t automatically mean your claim isn’t valid. If you have lost money due to the actions of William King, it’s important that you reach out to an investment loss attorney quickly because the statutes of limitations can bar your claims. Call us at 800-732-2889. Allegations Against William King    A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows: William King Red Flags & Your Rights As An Investor Of course, William King did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of William King at Merrill Lynch, Pierce, Fenner & Smith Incorporated on alert to review carefully the activity and performance of their accounts and question whether William King has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Merrill Lynch, Pierce, Fenner & Smith Incorporated also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor. Did You Lose Money Because of Broker Misconduct? If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. File A Claim To Recover Your Investment Losses At Merrill Lynch, Pierce, Fenner & Smith Incorporated Due To William King If you have questions about Merrill Lynch, Pierce, Fenner & Smith Incorporated and/or William King and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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El ajuste de márgenes: Qué son y cómo se pueden gestionar

Increased volatility in the market can sometimes bring about uncomfortable and surprising situations for investors, especially when it comes to margin calls. You may find yourself asking when do margin calls happen and how do they work. When you buy stock on a margin, you’re essentially borrowing money from your broker to finance the purchase. While this is a strategy that can amplify your gains if the stock price goes up, it can also lead to painful losses if the stock price falls and you’re forced to sell other assets or put more money into your account to meet the margin call. In this article you will learn everything there is to know about margin calls, including: IMPORTANT: If you have suffered significant investment losses as a result of being forced to liquidate a margin account, you should speak to an experienced securities fraud attorney about your legal options. What is a Margin Call? A margin call is a demand from your broker that you must deposit more money or securities into your margin account to cover potential losses. This typically occurs when a margin account runs low on funds, usually due to heavy losses in investments. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. In most, but not all cases, your broker will notify you of a margin call and give you a set amount of time to deposit more funds or securities into your account. You typically will have two to five days to respond to a margin call. Timeframes for responding to a call may vary depending on your broker and the circumstances. Regardless of the time frame, it is important that you take action as soon as possible. IMPORTANT: If you aren’t able to meet the margin call fast enough or don’t have any extra funds to deposit, your broker may also force you to sell some of your securities at a loss in order to free up cash. This is known as forced liquidation. In fact, many margin account agreements allow brokerage firms to liquidate your portfolio at their discretion without notice. What Triggers a Margin Call? There are several things that can trigger a margin call, but the most common is when the value of securities in your account falls below a certain level set by your broker (house maintenance margin requirement) or securities exchange where securities are traded (exchange margin requirement). When this occurs, your broker will issue a margin call in order to protect themselves from losses and to ensure that your account has enough funds to cover potential losses. You’re then required to deposit additional funds or securities into your account to meet the call to bring your account back to the maintenance margin level. If you don’t make a deposit, your broker may sell some of your securities at a loss to cover the shortfall. Margin calls can occur at any time, but tend to occur during periods when there is high volatility in the markets. What happens when you get a margin call? A margin call is most often issued these days electronically, through your broker’s online platform. You can also receive an email or other notification from your broker informing you of the margin call and how much money you need to deposit by a certain time. What happens next depends on your broker and the situation. If your broker is not worried about the situation, they may give you some time to raise the extra funds to deposit into your account. If they are worried, they may demand that you meet the call immediately or they may even sell some of your securities to cover the shortfall if you don’t have the extra cash on hand without notice. Yes, a broker can sell your securities without your permission if you don’t have enough money in your account to meet a margin call. All of this depends upon the contract you signed when you opened your account which outlines the broker’s rights in these situations. It’s important to remember that your broker will most likely be interested in protecting their own financial interests rather than yours, so you should make sure that you understand your rights and obligations before entering into a margin agreement. Because they are not always required to give you time to meet a margin call, unless they are under contractual agreement to do so, they may not notify you before liquidating assets in your account to pay off any margin debt. If this happens, your investment portfolio may suffer significant losses. Unfortunately, even if you are in a position to meet the call, you may not be able to get your securities back if they have already been sold by your broker. When you opened up your margin account, you likely signed an agreement that gave your broker the right to sell your securities without notifying you first. This is why it’s important to understand the terms of your margin agreement before signing it. You should also be aware of the risks involved in trading on margin. MPORTANT: If your broker decides to sell your highly appreciated securities, you can be left with large deferred-tax liabilities as well as major capital gain tax expenses that must be paid in the relevant tax year. In addition, brokers can sell your securities within the margin account at an undervalued price, leaving you with even more investment losses. How long do you have to pay a margin call? The time frame for responding to a margin call can vary depending on your broker and the circumstances. Typically, brokers will allow from two to five days to meet the call. You will need to review your account agreement with your broker to be sure. Beware, most margin account agreements do not require the broker to give you any amount of time or notice before they liquidate. What happens if you cannot pay the margin call? Not meeting a margin call can have long-term consequences...

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Las líneas de crédito respaldadas por valores pueden ser más peligrosas que las cuentas de margen

Many investors have heard of margin accounts and the horror stories of others who invested on margin and suffered substantial losses. But few investors understand that securities-backed lines of credit (SBL) accounts, which have been aggressively promoted by brokerage firms in the last decade, are just as dangerous as margin accounts. This is largely due to the fact that the equity and bond markets have been on an upward trend since 2009 and few investors (unless you are a Puerto Rico investor) have experienced market slides resulting in margin calls due to the insufficient amount of collateral in the SBL accounts. Securities-Backed Lines of Credit Overview It is only over the last several months of market volatility that investors have begun to feel the wrath of margin calls and understand the high risks associated with investing in SBL accounts. For investors considering your stockbroker’s offer of a line of credit (a loan at a variable or fixed rate of interest) to finance a residence, a boat, or to pay taxes or for your child’s college education, you may want to read a little more about the nature, mechanics, and risks of SBL accounts before you sign the collateral account agreement and pledge away your life savings to the brokerage firm in exchange for the same loan you could have obtained from another bank without all the risk associated with SBL accounts. First, it may be helpful to understand just why SBL accounts have become so popular over the last decade. It should be no surprise that the primary reason for your stockbroker’s offering of an SBL is that both the brokerage firm and he/she make money. Over many years, the source of revenues for brokerage firms has shifted from transaction-based commissions to fee-based investments, limited partnerships, real estate investment trusts (REITs), structured products, managed accounts, and income earned from lending money to clients in SBL and margin accounts. Many more investors seem to be aware of the danger of borrowing in margin accounts for the purposes of buying and selling securities, so the brokerage firms expanded their banking activities with their banking affiliates to expand the market and their profitability in the lending arena through SBL accounts. The typical sales pitch is that SBL accounts are an easy and inexpensive way to access cash by borrowing against the assets in your investment portfolio without having to liquidate any securities you own so that you can continue to profit from your stockbroker’s supposedly successful and infallible investment strategy. Today the SBL lending business is perhaps one of the more profitable divisions at any brokerage firm and banking affiliate offering that product because the brokerage firm retains assets under management and the fees related thereto and the banking affiliate earns interest income from another market it did not otherwise have direct access to. For the benefit of the novice investor, let me explain the basics of just how an SBL account works. An SBL account allows you to borrow money using securities held in your investment accounts as collateral for the loan. The Danger of Investing in SBL Accounts Once the account is established and you received the loan proceeds, you can continue to buy and sell securities in that account, so long as the value of the securities in the account exceeds the minimum collateral requirements of the banking affiliate, which can change just like the margin requirements at a brokerage firm. Assuming you meet those collateral requirements, you only make monthly interest-only payments and the loan remains outstanding until it is repaid. You can pay down the loan balance at any time, and borrow again and pay it down, and borrow again, so long as the SBL account has sufficient collateral and you make the monthly interest-only payments in your SBL account. In fact, the monthly interest-only payments can be paid by borrowing additional money from the bank to satisfy them until you reach a credit limit or the collateral in your account becomes insufficient at your brokerage firm and its banking affiliate’s discretion. We have heard some stockbrokers describe SBLs as equivalent to home equity lines, but they are not really the same. Yes, they are similar in the sense that the amount of equity in your SBL account, like your equity in your house, is collateral for a loan, but you will not lose your house without notice or a lengthy foreclosure process. On the other hand, you can lose all of your securities in your SBL account if the market goes south and the brokerage firm along with its banking affiliate sell, without prior notice, all of the securities serving as collateral in the SBL account. You might ask how can that happen; that is, sell the securities in your SBL account, without notice? Well, when you open up an SBL account, the brokerage firm and its banking affiliate and you will execute a contract, a loan agreement that specifies the maximum amount the bank will agree to lend you in exchange for your agreement to pledge your investment account assets as collateral for the loan. You also agree in that contract that if the value of your securities declines to an amount that is no longer sufficient to secure your line of credit, you must agree to post additional collateral or repay the loan upon demand. Lines of credit are typically demand loans, meaning the banking affiliate can demand repayment in full at any time. Generally, you will receive a “maintenance call” from the brokerage firm and/or its banking affiliate notifying you that you must post additional collateral or repay the loan in 3 to 5 days or, if you are unable to do so, the brokerage firm will liquidate your securities and keep the cash necessary to satisfy the “maintenance call” or, in some cases, use the proceeds to pay off the entire loan. But I want to emphasize, the brokerage firm and its banking affiliate, under the terms of almost all SBL account agreements,...

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Inversionistas con línea de crédito y cuentas de margen respaldadas por valores: ¿Cómo recupera sus pérdidas de inversión?

Si está leyendo este artículo, suponemos que tuvo una mala experiencia recientemente en una línea de crédito respaldada por valores ("SBL") o en una cuenta de margen que sufrió llamadas de margen y fue liquidada sin previo aviso, lo que provocó que usted realizara pérdidas. Normalmente, los inversores con llamadas de margen reciben de 3 a 5 días para cumplirlas; y si eso sucediera, el valor de los valores de su cuenta podría haber aumentado en ese período y la empresa podría haber borrado la llamada de margen y podría no haber liquidado su cuenta. Si usted es un inversor que ha experimentado llamadas de margen en el pasado, y esa es su única queja entonces, no siga leyendo porque cuando firmó el acuerdo de cuenta con la firma de corretaje que eligió para hacer negocios, probablemente le dio el derecho de liquidar todos los valores de su cuenta en cualquier momento sin previo aviso. Por otra parte, si usted es un inversor con poca experiencia o uno con una condición financiera modesta al que se le convenció para que abriera una cuenta de línea de crédito respaldada por valores sin que se le informara de la verdadera naturaleza, mecánica y/o riesgos de la apertura de dicha cuenta, ¡entonces debería llamarnos ahora! Alternativamente, si usted es un inversor que necesita retirar dinero para una casa o para pagar sus impuestos o la educación de sus hijos, pero se le convenció para que mantuviera una cartera de acciones y/o bonos basura arriesgada o concentrada en una cuenta de garantía prendaria para una línea de crédito o una cuenta de margen, entonces probablemente también podamos ayudarle a recuperar sus pérdidas de inversión. La clave para una recuperación exitosa de su pérdida de inversión es no centrarse en la liquidación por parte de la empresa de corretaje de los valores de su cuenta sin previo aviso. En lugar de ello, la atención de su caso debe centrarse en lo que se le dijo y en si la recomendación era adecuada para usted antes de que abriera la cuenta y sufriera la liquidación.

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Los inversores de la UBS tienen una estrategia de rendimiento mejorada: ¿Cómo recuperan sus pérdidas de inversión "UBS-YES"?

Si está leyendo este artículo, probablemente invirtió en la Estrategia de Mejora del Rendimiento de UBS ("UBS-YES") y se sorprendió al saber que el programa UBS-YES en el que invirtió no era exactamente una estrategia de inversión "neutral para el mercado" durante la reciente caída del mercado COVID 19. A pesar de las representaciones de su corredor de bolsa UBS sobre la capacidad de los gerentes de UBS-YES para "manejar el riesgo" y "minimizar las pérdidas" a través de su estrategia de opción "cóndor de hierro" usted todavía se dio cuenta de las pérdidas sustanciales. Usted no está solo porque eso es lo que muchos otros inversionistas de UBS-YES nos han dicho acerca de la propuesta que se les hizo para invertir en el programa UBS-YES y su reciente experiencia.

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UBS Financial Services, Inc. Demandado por la supuesta mala conducta de los asesores de Florida y Ohio en relación con la estrategia de inversión de la línea de crédito

UBS Financial Services, Inc, ("UBS") empleó a un asesor financiero (el "FA") que tiene oficinas en Bonita Springs, Florida y Sylvania, Ohio. UBS presentaba al FA y a otros empleados de UBS de su equipo como asesores de inversiones, gestores de inversiones, asesores financieros y planificadores financieros con conocimientos y experiencia especiales en la gestión de carteras de valores y asuntos financieros, patrimoniales, de jubilación y de planificación fiscal.

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Inversores en petróleo y gas: ¿Cómo recupera las pérdidas de su inversión en petróleo y gas?

Inversores en petróleo y gas: ¿Cómo recupera las pérdidas de su inversión en petróleo y gas? Si está leyendo este artículo, suponemos que invirtió en una o más de esas acciones, bonos, sociedades limitadas, productos básicos, fondos comunes de productos básicos y/o productos estructurados mal representados e inadecuados como inversiones alternativas vinculadas al sector del petróleo y el gas de los mercados de acciones y productos básicos. No nos sorprendería que le dijeran que los grandes conglomerados de petróleo y gas tienen un historial probado de grandes dividendos muy superiores a los rendimientos de las inversiones de renta fija a las que usted estaba acostumbrado, pero no dijo nada sobre la volatilidad de ese tipo de inversiones. Tal vez esté leyendo esta página web porque su asesor financiero le recomendó que invirtiera sus ahorros para la jubilación en algunos de esos productos estructurados de petróleo y gas más complejos y apalancados, empaquetados como Fondos Cotizados (ETF), Notas Cotizadas (ETN) u otros Productos Cotizados (ETP), que se apalancaron dos o tres veces y se estrellaron en marzo de este año. No eran inversiones adecuadas para jubilados con perfiles de riesgo conservador o moderado. ¿Su asesor financiero le recomendó que invirtiera sin explicar la naturaleza, la mecánica o los riesgos de cualquiera de esas inversiones en petróleo y gas? ¿Sus inversiones estaban excesivamente concentradas (más del 10% de su cartera) por su corredor de bolsa o su asesor de inversiones en el sector del petróleo y el gas para sustituir los bonos que poseía por acciones que pagaban mayores dividendos? ¿Perdió el cincuenta por ciento (50%) o más en esas inversiones de petróleo y gas? No estamos sorprendidos porque eso es lo que muchos otros inversores nos han dicho sobre lo que les sucedió recientemente. Ahora les vamos a decir qué hacer con esas pérdidas en las inversiones de petróleo y gas. Su corredor de bolsa tenía el deber no sólo de entender sino de explicar la naturaleza, la mecánica y todos los riesgos asociados a esas inversiones antes de venderle esas inversiones, en particular algunas de las disposiciones dentro de las ETN donde el corredor-agente que emitió las ETN o ETP podía redimirlas o retirarlas y obligarle a realizar enormes pérdidas. Su corredor de bolsa también tenía el deber de asegurarse de que fueran inversiones adecuadas antes de recomendárselas a la luz de su tolerancia al riesgo y su condición financiera y no concentrar excesivamente las inversiones en el volátil sector del petróleo y el gas en su cartera. Lamentablemente, muchos asesores financieros que no comprendían la naturaleza, la mecánica o los riesgos vendieron estas inversiones a clientes con un riesgo conservador y moderado que buscaban mejorar sus ingresos para su jubilación. No eran inversiones adecuadas para inversores con ese tipo de perfil. Si su asesor financiero tergiversó la naturaleza, la mecánica o los riesgos de esas inversiones en petróleo y gas, o si los riesgos no se explicaron completamente, o si usted estaba sobreconcentrado (más del 10%) en el sector del petróleo y el gas, o si no era en su mejor interés (o no era adecuado), y/o si sus inversiones fueron liquidadas sin previo aviso debido a las llamadas de margen, usted puede tener derecho a presentar una demanda de arbitraje contra su asesor financiero y/o la empresa de corretaje que lo empleó. No hay manera de que recupere sus pérdidas en estas inversiones de petróleo y gas sin alguna acción legal. En el Despacho Jurídico de Robert Wayne Pearce, P.A., representamos a inversores en disputas de inversión por inversiones mal representadas e inadecuadas en acciones de petróleo y gas, bonos, sociedades limitadas, productos básicos, fondos comunes de productos básicos y/o productos estructurados como inversiones alternativas vinculadas al sector de petróleo y gas de los mercados de acciones y productos básicos en los procedimientos de arbitraje y mediación de la FINRA. Las demandas que presentamos son por fraude y tergiversación, incumplimiento del deber fiduciario, falta de supervisión y recomendaciones inadecuadas en violación de las normas de la SEC y la FINRA y los estándares de la industria. El abogado Pearce y su personal representan a los inversores en todo Estados Unidos sobre la base de una CUOTA DE CONTINGENCIA, lo que significa que usted no paga nada - SIN CUOTAS - SIN COSTOS - a menos que pongamos dinero en su bolsillo después de recibir un acuerdo o un laudo arbitral de la FINRA. Se habla español CONTÁCTENOS PARA UNA CONSULTA INICIAL GRATUITA CON ABOGADOS EXPERTOS EN INVERSIÓN DE PRODUCTOS ESTRUCTURADOS EN ARBITRAJE FINRA El Bufete de Abogados de Robert Wayne Pearce, P.A. tiene abogados altamente experimentados que han manejado con éxito muchos casos de inversión en petróleo y gas y otros asuntos de leyes de valores y disputas de inversión en procedimientos de arbitraje FINRA, y que trabajan incansablemente para asegurar el mejor resultado posible para usted y su caso. Para una representación dedicada por un abogado con más de 40 años de experiencia y éxito en casos de productos estructurados y todo tipo de disputas sobre leyes de valores e inversiones, comuníquese con el bufete por teléfono al 561-338-0037, sin cargo al 800-732-2889 o por correo electrónico.

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Arbitraje FINRA: Qué esperar y por qué debe elegir nuestro bufete de abogados

Si está leyendo este artículo, probablemente sea un inversor que ha perdido una cantidad sustancial de dinero, buscó en Google "Abogado de Arbitraje FINRA", hizo clic en varios sitios web de abogados, y tal vez incluso habló con un llamado "Abogado de Arbitraje de Valores" que le dijo después de una llamada telefónica de cinco minutos que "tiene un gran caso"; "necesita firmar un acuerdo de retención sobre una base de 'honorarios de contingencia'"; y "necesita actuar ahora porque el estatuto de limitaciones va a correr".

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72 (t) Jubilación anticipada: ¡no para mí!

El artículo 72 t) del Código de Rentas Internas suele ser presentado como el secreto de la jubilación anticipada por corredores y asesores financieros en seminarios y almuerzos gratuitos para los empleados de las principales empresas con planes de participación en los beneficios y de pensiones y 401 k). Las presentaciones se hacen en hoteles y restaurantes de lujo para inducir a los empleados a jubilarse o a cobrar sus 401(k) antes de lo que podrían haber hecho de otro modo, a través de una laguna bastante desconocida que permite evitar la penalización del IRS por retiro anticipado. A los empleados también se les promete que pueden cobrar sus ahorros para la jubilación a los 40 o 50 años, reinvertir el dinero y vivir de las ganancias por el resto de sus vidas. Pero hay mucho más en los beneficios de jubilación anticipada que sólo evitar la penalidad del IRS.

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El bufete de abogados de Robert Wayne Pearce, P.A. gana un premio de 6 millones de dólares contra UBS y UBS Puerto Rico

En un procedimiento de arbitraje contra UBS Financial Services, Inc. (UBS) y UBS Financial Services, Inc. de Puerto Rico (UBS-PR), el bufete de abogados de Robert Wayne Pearce, P.A. ganó 4,25 millones de dólares en daños compensatorios más intereses al 6,25% a partir del 28 de febrero de 2014 y costos de 170.000 dólares para uno de los clientes del bufete el mes pasado. A continuación se presenta un resumen de las acusaciones de nuestros clientes contra UBS y UBS-PR. Si usted o algún miembro de su familia recibió recomendaciones inadecuadas similares de UBS-PR y sus corredores de bolsa, o se encontró con una cuenta sobreconcentrada en bonos municipales de Puerto Rico y/o fondos de bonos cerrados, o si pidió prestado dinero a UBS y utilizó sus inversiones como garantía de préstamo, es posible que podamos ayudarle a recuperar sus pérdidas. Comuníquese con nuestra oficina lo antes posible para una consulta gratuita sobre su caso. El tiempo es esencial!

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