Public records published by the Financial Industry Regulatory Authority (FINRA) on July 6, 2016 indicate that Texas-based Royal Alliance Associates broker/adviser Bill Holubec has been the subject of a customer complaint. The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against Mr. Holubec (CRD# 1304064).
Bill Holubec has spent 31 years in the securities industry and has been registered with Royal Alliance Associates in San Angelo, Texas since 1994. Previous registrations include Princor Financial Services in Des Moines, Iowa; Walnut Street Securities in El Segundo, California; Anchor Financial Services; and Integrated Resources Equity Corporation. He is a registered broker and investment adviser with 27 US states and territories.
In 2010, a customer alleged Bill Holubec, while employed at Royal Alliance Associates, unsuitably allocated funds within a variable annuity. The complaint settled for $49,750.
According to FINRA rules and federal securities law, investment professionals like Bill Holubec must abide by a standard called suitability, meaning they must recommend only investments that are suitable for their clients. Brokers must weigh such factors as the customer’s investment goals, experience, age, income, risk tolerance, and others. They may not misrepresent or omit material facts pertaining to an investment, as misrepresentations or omissions might lead a customer to invest unsuitably. Brokers who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Bill Holubec, you may be able to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.