The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker William Koenig. According to his publicly available FINRA BrokerCheck report, William Koenig has been the subject of multiple customer disputes over the course of his career.

William Koenig is a Florida based securities broker. He has worked in the securities industry for thirty-two years. During his career, he has been registered with five different securities firms.

His Registrations

  • The Stuart-James Company (1987)
  • Fitzgerald, Dearman & Roberts (1987-1990)
  • A.G. Edwards & Sons (1988-2000)
  • Raymond James Financial Services (2000-2009)
  • J.W. Cole Financial (2009-Present)

The Allegations

  • In November 2003, a customer alleged that William Koenig recommended unsuitable investments, breached contract, violated federal securities laws, breached his fiduciary duty, engaged in fraudulent misrepresentation, engaged in negligent misrepresentation, and handled their account with gross negligence. This case went to arbitration where the customer was awarded $240,000.
  • In April 2007, a customer alleged that William Koenig recommended unsuitable investments, breached his fiduciary duty, breached contract, made material misrepresentations and omissions, executed unauthorized trades, handled their account negligently, and engaged in fraud. This case was settled for $18,750 in damages.
  • In June 2007, a customer alleged that William Koenig breached his fiduciary duties. This case was settled for $50,000 in damages.
  • In April 2018, a customer alleged that her portfolio was over-concentrated in a risky and unsuitable holding by William Koenig. This case was settled for an undisclosed amount in damages.

What Does This Mean?

Securities brokers have an obligation to their customers to always act in their best financial interests. Part of this means adequately diversifying their portfolio in a variety of different investments. When securities brokers over-concentrate an investor’s account in a singular security, it hinges the investor’s financial success on the success of that one security. Investors’ accounts need to be properly diversified in different investments so that their success or failure is dependent on a variety of investments–not just one.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with William Koenig, please contact Oakes & Fosher for a free and private consultation. We handle cases on a contingency basis, which means there are no fees charged unless we collect for you.