Concorde Investment Services Broker Accused Of Fraud

Morrow Allegedly Made Unsuitable Recommendations Involving Alternative Investments

In what is at least the thirteenth customer complaint naming him, Concorde Investment Services broker William Aubrey Morrow is once more accused of making unsuitable investment recommendations to an investor.

Morrow, who also operates under the name Financial Designs, LTD, has been involved in a number of broker fraud investor claims related to alternative investments including limited partnerships, real estate investment trusts (REITs) tenant-in-common (TIC) programs, and other investments.

Prior to working for Concorde Investment, he was an Independent Financial Group stockbroker for 12 years.

Our investor fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) have been speaking with current and former customers of the Concorde Investment broker who suffered significant losses while working with him. Contact SSEK Law Firm today.

Firms Continue to Hire Morrow Despite Broker Fraud Complaints Going As Far Back As Two Decades

According to his BrokerCheck record (CRD#: 836500), Morrow has worked 42 years in the industry. He has been with Concorde Investment since 2018. Prior to that, he was with Independent Financial Group.

Other firms he has been a registered broker with are QA3 Financial Corp., Mutual Service Corporation, Titan/Value Equities Group, Dunham and Associates Investment Counsel, Inc., Financial Network Investment Corp., Briarwood Securities Corp., Value Equities Corp., and CG Equity Sales Company.

William Morrow is clearly an experienced broker and adviser with many years of experience under his belt. The first customer dispute naming him was in 1998.

The most current, still pending customer claim, brought in May 2020, alleges that Morrow recommended and sold financial products that were high risk and unsuitable for the investor’s risk tolerance levels and investment objectives. The claimant is seeking $100K in damages.

List Of FINRA Arbitration Cases Brough Against The Concorde Investment Services Broker

The other disputes naming Morrow have either resulted in a settlement or award/ judgment, many of them in the six figures. Here are some of the Financial Industry Regulatory Authority (FINRA) arbitration cases involving him:

2/2015: A customer claim that was settled for $100K. The claimant alleged unsuitability, breach of fiduciary duty, breach of contract, negligent supervision, and the sale of unregistered tenant in common investments in 2006.
11/2012: The claimant alleged misrepresentations and omissions, breach of fiduciary duty, and unsuitable transactions. The investor fraud case was settled for $380K.
12/2011: This investor claim also involved tenant in common investments and makes similar allegations as the later TIC fraud claims. A settlement of $250K was reached.
11/2010: This REIT fraud claim was settled for $150K. Once again, breach of contract, breach of fiduciary duty, negligence, and misrepresentations were alleged.
8/2010: A $450K settlement was reached in this TIC investment claim that alleged unsuitability, failure to supervise, and made other contentions.
5/2003: This customer, alleging negligence, breach of fiduciary duty, unsuitable recommendations, and misrepresentations and omissions, was awarded over $206K in damages.

Get Legal Advice From Our Stockbroker Fraud Lawyers

Our alternative investment fraud lawyers represent investors throughout the US. If you believe that you were the subject of unsuitable investment recommendations or other acts of stockbroker fraud by Concorde Investment broker William Morrow or any other registered representative, SSEK Law Firm would like to offer you a free consultation to explore your legal options.