Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on September 25, 2018 indicate that a current Riley Wealth Advisor and former Texas-based Silver Oak Securities broker/adviser William Riley, who has received resolved or pending customer disputes, recently resigned from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Riley (CRD# 1493287).
William Riley has spent 32 years in the securities industry and was most recently registered as a broker with Silver Oak Securities in Fort Worth, Texas (2008-2018); he is currently registered as an investment adviser with Riley Wealth Advisors in Fort Worth, Texas, where he has been registered since 2008. Previous registrations include Raymond James & Associates in Fort Worth, Texas (2002-2008); UBS Painewebber in Weehawken, New Jersey (2000-2002); JC Bradford & Company in New York, New York (1998-2000); Merrill Lynch in New York, New York (1993-1998); Jefferson-Pilot Investor Services in Fort Wayne, Indiana (1991-1993); Amev Investors in Oakdale, Minnesota (1990-1991); USLife Equity Sales Corporation in New York, New York (1986-1990); and Philadelphia Life Asset Planning Company (1986). He has passed six securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on July 9, 1986; Series 3 (National Commodity Futures Examination), which he obtained on August 31, 2001; Series 7 (General Securities Representative Examination), which he obtained on June 8, 1993; Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on May 13, 1986; Series 24 (General Securities Principal Examination), which he obtained on January 6, 2003; and Series 8 (General Securities Sales Supervisor Examination [Options Module & General Module]), which he obtained on November 26, 1996. He is currently not registered as a broker with any state or firm.
According to his BrokerCheck report, he has received three customer complaints and one pending customer complaint; he also recently resigned from a former employer in connection to alleged rule violations.
In July 2018 a customer alleged William Riley, while employed at Silver Oak Securities, recommended unsuitable oil and gas securities and alternative investments, and breached his fiduciary duty. The customer is seeking $600,000 in damages in the pending complaint.
In June 2018 he was “permitted to resign” from his position at Silver Oak Securities in connection to allegations he “failed to submit websites for review and approval” before they were used, per firm policies.
In 2003 a customer alleged William Riley, while employed at UBS Financial Services, failed to follow instructions, misrepresented material facts, and recommended unsuitable mutual fund investments. The complaint settled in 2004 for $100,000.
In 2002 a customer alleged William Riley, while employed at Painewebber, executed unauthorized trades and recommended unsuitable investments. The complaint settled for $65,000.
In 1999 a customer alleged he, while employed at Merrill Lynch, provided unsuitable advice, misrepresented material facts, and effected unauthorized transactions. The complaint settled for $50,000.
If you or someone you know has lost money investing with William Riley, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. 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.