Sonn Law Group is urgently investigating former Avantax and LPL Financial LLC financial advisor William Bernard Tunink (CRD#: 2738224) following his suspension by FINRA and an avalanche of devastating customer complaints.

When investors trust their hard-earned wealth to a financial institution, they expect their financial advisors to act in their best interest and strictly adhere to industry rules. Unfortunately, devastating financial harm can occur when brokers abuse that trust by soliciting improper personal loans or pitching unapproved “outside” investments.

The Allegations Against William Tunink According to William Tunink’s official FINRA BrokerCheck profile (FINRA), the West Des Moines-based broker was suspended by FINRA in early 2026 for failing to respond to regulatory requests for information.

The extensive disclosures available in the official FINRA BrokerCheck Report (FINRA) reveal a highly alarming regulatory history. Tunink’s record is littered with over 25 disclosures, primarily customer disputes filed in late 2025 and 2026. A repeated, damaging allegation throughout these complaints is that Tunink borrowed hundreds of thousands of dollars from his customers for an “investment opportunity away from the firm.” This practice, widely known as “selling away,” is a severe violation of FINRA rules. LPL Financial discharged Tunink in September 2025 after allegations surfaced that he failed to disclose and receive prior approval for loans from customers and attempted to settle a customer complaint away from the firm.

Understanding FINRA Arbitration When a dispute involves complex claims—such as selling away, unauthorized loans, and a brokerage firm’s failure to supervise its agents—investors must typically seek financial recovery through FINRA arbitration rather than traditional civil courts. Brokerage firms like LPL Financial and Avantax are responsible for supervising their brokers; if they fail to catch unauthorized outside business activities, they can be held liable for the resulting investor losses.

During the arbitration process, your attorney will file a Statement of Claim detailing the broker’s misconduct and the damages you are seeking. The case is then heard by a panel of arbitrators who will review documents, hear testimony, and issue a binding Award.

How to Recover Your Investment Losses Pursuing a FINRA arbitration involving a complex “selling away” scheme requires deeply experienced legal counsel. You need powerful representation to navigate the arbitration process, track down missing funds, and fight for your financial recovery against large brokerage firms.

If you have suffered significant investment losses, lent money, or purchased unapproved outside investments recommended by William Tunink, the team at Sonn Law Group is here to help you understand your options. We represent investors nationwide in FINRA arbitration claims and have a strong track record of holding negligent brokers and their firms accountable.