Raymond James & Associates, Inc. Broker William Seibert Accused of Unsuitable Investments

Raymond James & Associates Inc.

Raymond James & Associates, Inc. broker William Seibert (Colin Siebert) (CRD# 2710335) is accused of unsuitable investment recommendations. He has been registered with Raymond James & Associates, Inc. in Houma, Louisiana, since 2013. 

William Seibert Customer Complaints

He has been the subject of five customer complaints between 2007 and 2023, three of which were closed without action, according to his CRD report:

January 2023. “Claimants allege FA recommended they invest heavily in unsuitable and purportedly high-risk oil and gas investments.” The case is currently pending. 

January 2021. “Claimants allege FA recommended unsuitable investments, primarily in oil and gas securities; several claimants allege FA engaged in reverse churning; and one claimant alleges FA failed to disclose margin use in claimant’s account. Alleged Activity dates: 5/17/01 – present.” The customer sought $4,209,000 in damages, and the case was settled for $1,022,500. The complaint was regarding common and preferred stocks, sector concentration, and margin/stock loans.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Raymond James & Associates, Inc.  may be liable for investment or other losses suffered by William Seibert’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.

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Author: Jeffrey Erez

The founder of Erez Law, Jeffrey Erez, focuses exclusively on securities arbitration and litigation. Mr. Erez passionately believes in representing aggrieved investors and obtaining justice for his clients through litigation.