William Dumchus— Alleged Unsuitability

William Joseph Dumchus Allegedly Engaged in Acts of Unsuitability; Damages of $350K and $250K Being Requested, Respectively

William Dumchus allegedly engaged in acts of unsuitability, according to a pair of pending Customer Disputes filed on Dumchus’s FINRA BrokerCheck Report under review by investor rights attorney Alan Rosca.

Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to William Dumchus’s alleged acts of unsuitability. Investors who believe they may have lost money in activity related to William Dumchus’s alleged acts of unsuitability are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

The aforementioned pending disputes were filed in October, 2018, FINRA states, and both disputes state that from 2006 through 2017, the FA presented an unsuitable investment plan, FINRA reports.

The first complaint alleges damages of $250,000 and the second complaint alleges damages of $350,000, and both complaints remain pending, FINRA notes.

William Dumchus, a Financial Adviser at Morgan Stanley in Short Hills, NJ, Has 2 Disclosures, and Has Worked at 6 Firms over 35 Years

William Dumchus has been in the securities industry since the 1980s with 6 different firms, FINRA reports, and has been registered as an Investment Advisor Representative at Morgan Stanley in Short Hills, NJ since April 16, 2014.

William Dumchus has also worked at the following firms:

• Wells Fargo, NJ, Westfield, NJ — February 3, 2006 through April 17, 2014
• UBS Financial Services, Inc., Weehawken, NJ — December 1, 2000 through February 23, 2006
• Salomon Smith Barney, Inc., New York, NY — July 31, 1993 through December 11, 2000
• Lehman Brothers Inc., New York, NY — April 27, 1984 through July 31, 1993
• Merrill Lynch, Pierce, Fenner & Smith Inc. (Location undisclosed) — March 25, 1983 through April 19, 1984

William Dumchus is also a registered broker and investment adviser with 14 US states and territories, FINRA states.

Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.

Securities Lawyer Investigating

The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating William Dumchus’s alleged acts of unsuitability. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of William Dumchus’s alleged acts of unsuitability may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.

DISCLAIMER

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.

If you believe you lost money as a result of investment-related fraud or misconduct, please contact our law firm for a free, no-obligation evaluation of your recovery options.

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