New Jersey Broker Glenn King Barred by FINRA

Allegations against King include making fraudulent misrepresentations to clients

Glenn King, a former broker based in New Jersey, has been barred from acting as a broker by the Financial Industry Regulatory Authority (FINRA) for misconduct. A veteran in the securities industry with a career that dates back to 1992, King has received 19 customer complaints and is the subject of several investigations and two financial disclosures.

According to FINRA, King allegedly made fraudulent misrepresentations and neglected to provide the required prospectus to clients in association with Unit Investment Trusts (UITs) while employed by Royal Alliance Associates, a national financial advisory firm. The FINRA report states that King made his elderly clients believe that he would use their investment funds to purchase safe, no-risk bonds and that he would not charge commissions for these transactions. However, investigations show that he purchased 44 UITs that caused his clients to lose tens of thousands of dollars while he made $38,000 in commissions. These FINRA allegations and an internal review by his member firm caused King to be terminated from Royal Alliance Associates in June of 2011.

In addition to these charges, FINRA also alleges that King made unsuitable and excessive trades, and conducted a series of short-term trades with long-term investment products that resulted in over $160,000 of losses for his clients and allowed him to collect more than $200,00 in commissions. This activity allegedly took place between 2013-2014 when King was employed by Buckman, Buckman, and Reid in Shrewsbury, New Jersey.

Glenn King was employed by numerous firms during his more than 20-year career in the financial services industry. Most recently, he worked for Buckman, Buckman, and Reid from January 2012 until June 2016, and before that he was associated with Garden State Securities in Red Bank, New Jersey and Saxony Securities in Lakewood, New Jersey.

If you enlisted the services of Glenn King and have suffered losses as a result of this relationship, you may be able to recover some or all of your losses. You can find out more about the allegations against him by reviewing his BrokerCheck report, a complimentary service provided by FINRA.

The attorneys at Silver Law Group are leaders in the field of securities arbitration. We represent individual and institutional investors across the United States who have lost money at the hands of a trusted financial advisor. Our services are provided on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. Contact us for a complimentary consultation about your situation.