William Ornstein (CRD# 500470) is a registered FINRA broker. Since 2001, Mr. Ornstein has been employed as a securities representative of The GMS Group, based at a branch office in Boca Raton, Florida.
In the first few months of 2019, two investors have filed complaints against this broker. Here, our investment fraud attorneys review the most recent claims against GMS Group financial advisor William Ornstein.
Allegations: Breach of Fiduciary and Broker Negligence
On February 26th, 2019, an investor filed a claim against William Ornstein alleging broker negligence, material misrepresentations, breach of fiduciary duty, deception, and exploitation. In this dispute, the customer is seeking $250,000 in financial compensation. FINRA lists this complaint as ‘pending’.
On March 1st, 2019, a customer brought a claim against GMS Group financial advisor William Ornstein on the grounds of breach of fiduciary duty and broker negligence. This investor is seeking $100,000 in financial relief. FINRA also lists this claim as ‘pending’.
Notably, Mr. Ornstein has also been subject to several other investor complaints in the past. He has settled four FINRA arbitration claims since 2001 — including one unsuitable investment recommendations case for $675,000 in damages, which was settled in 2009.
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At Sonn Law Group, we are committed to protecting the investor. If you lost money because of a financial advisor’s breach of fiduciary duty or any other type of broker misconduct, our securities fraud attorneys can help. To get a free initial consultation, please call us today.
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