Top Merrill Advisor Resigns Amid Customer Complaints

Posted on May 22nd, 2023 at 1:09 PM
Top Merrill Advisor Resigns Amid Customer Complaints

From the desk of Jim Eccleston at Eccleston Law 

William King, a top-ranked advisor, voluntarily resigned last month after receiving at least ten customer complaints since August.

The complaints against King raised concerns about the mismanagement of customer accounts, with most of the disputes relating to claims of unsuitable or unauthorized trading of options positions, according to FINRA’s BrokerCheck.

For example, one complaint seeks $600,000 in damages, alleging that King did not act in the client's best interest by employing a managed account strategy and failing to implement risk management strategies, which left the portfolio exposed to market volatility.

King previously managed $1.4 billion in client assets, and Forbes ranked him #166 on its top wealth advisors list of 2022, as well as its best-in-state wealth management teams, list this year, according to AdvisorHub.


Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory and disciplinary matters.

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I just received this letter from the CFP Board. Thank you, Thank you, THANK YOU!

David Y


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