William Colie Johnson, Broker with Cadaret, Grant & Co., Named in Multiple Customer Disputes Alleging Unsuitable Investment Recommendations

The customers allege that Johnson recommended high-risk and illiquid alternative investments.

William Colie Johnson (CRD#: 3174473) is registered as a broker and investment adviser with Cadaret, Grant & Co., where he has been employed since 2019. Previously, Johnson was registered as a broker and investment adviser with Voya Financial Advisors from 1999 until 2019.

Johnson has ten disclosures on his BrokerCheck report. Three customer disputes filed against Johnson were denied.

September 2021 Customer Dispute

• Status: Pending
• Allegations: Client alleges that between 2012 and 2015, she was sold unsuitable, high-risk illiquid alternative investments. The client further alleges that the representative incorrectly listed her net worth and income information on account forms.

September 2021 Customer Dispute

• Status: Pending
• Allegations: Customer alleges that he was sold unsuitable, high-risk and illiquid alternative investments, and was told the investments purchased were safe and low-risk.
• Damage Amount Requested: $90,000.00

September 2021 Customer Dispute

• Status: Pending
• Allegations: The claimant alleges that in November of 2015, the investment in question was misrepresented as a low risk, safe, and suitable investment .
• Damage Amount Requested: $100,001.00

July 2021 Customer Dispute

• Status: Pending
• Allegations: Claimants allege that they invested approximately $600,000 with the representative and he recommended an unsuitable strategy that included a number of high risk alternative investments between 2013 and 2017. They believe their losses are approximately $250,000.
• Damage Amount Requested: $250,000.00

October 2020 Customer Dispute

• Status: Pending
• Allegations: Claimants alleged that beginning in 2014 representative sold them unsuitable and risky investments which were against their wishes to invest in a conservative portfolio.
• Damage Amount Requested: $200,000.00

August 2010 Customer Dispute

• Status: Settled
• Allegations: The client alleges that the sale of Class A mutual funds and the subsequent purchase of Class C mutual funds was unsuitable due to higher expenses.
• Settlement Amount: $1,100.05
• Broker Comment: In exchange for a release of all claims, and without admitting any wrongdoing or liability, the firm and the representative entered into a settlement agreement with the client for the reversal of Class C mutual funds for Class A mutual funds, which included a reversal of $1100.05 in sales charges. This was done solely for business purposes to avoid a costly and lengthy legal proceeding.

August 2009 Customer Dispute

• Status: Settled
• Allegations: Customer alleges that the variable annuity sold to him by the representative was unsuitable for his needs, desire or understanding. Further, the variable annuity did not include lifetime benefits or an annual base increase, both items the customer understood he had. Arbitration filing: Claimant alleges negligence, negligent misrepresentation, constructive fraud, breach of fiduciary duty, negligent supervision and training, and violation of South Carolina Unfair Trade Practices Act and Uniform Securities Act involving the variable annuity sold to him by the representative.
• Damage Amount Requested: $303,751.5
• Settlement Amount: $350,000.00
• Broker Comment: The firm investigated the customer’s concerns and did not find sufficient evidence to support the allegations or any wrongdoing on the part of the representative in this matter. Consequently, the firm denied the customer’s allegations. Without admitting fault in the subsequent litigation, the firm and representative settled the claim.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding William Colie Johnson. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.