William Worthen King, Broker with Merrill Lynch, Named in Customer Dispute Alleging Unauthorized Trading

INVESTORS: Merrill Lynch broker William Worthen King was named in customer disputes alleging unauthorized trading.

William Worthen King (CRD#: 1432593) is registered as a broker and investment adviser with Merrill Lynch, where he’s been employed since 1985. 

King has eight disclosures on his BrokerCheck report. Three customer disputes filed against King were closed with no action taken and one was withdrawn.

November 2022 Customer Dispute

Status: Pending

Allegations: Client alleges unauthorized trading of options from June through September 2022.

August 2022 Customer Dispute

Status: Pending

Allegations: The customers allege that the Financial Advisor was not acting in their best interest when he enrolled his brokerage account into a managed strategy and did not implement risk management strategies; therefore, leaving the portfolio open to market volatility.

Damage Amount Requested: $600,000.00

June 2002 Customer Dispute

Status: Settled

Allegations: Client alleges misrepresentation at time of purchase of variable annuity. No specific damages alleged.

Broker Comment: Client was given a death benefit guarantee that included an option for 5% growth on premiums invested. Settlement amount cannot be determined until death claim is filed.

March 1999 Customer Dispute

Status: Settled

Allegations: The customer’s complaint concerned his Merrill Lynch consults accounts and alleged that certain misrepresentations were mde regarding fees and performance, and that sales for tax losses were in excess of that authorized. No damage amount was alleged. This occurred at Merrill Lynch.

Settlement Amount: $49,000.00

Broker Comment: To avoid the costs and uncertainties of litigation and as an accommodation to a valued client[,] the firm made a business decision to settle this matter for $49,000. The customer had several Merrill Lynch consults accounts. These accounts were managed by an outside advisor selected by the customer. The fee for this service is a percentage of the value of the assets in the portfolio.

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