WILLIAM RYAN ZENK is currently employed as a Broker and/or Investment Adviser at CAMBRIDGE INVESTMENT RESEARCH, INC. located at 125 North Executive Dr., Ste 125, Brookfield, WI, 53005.
WILLIAM RYAN ZENK has worked at CAMBRIDGE INVESTMENT RESEARCH, INC. since October 18, 2017
WILLIAM RYAN ZENK has 1 Disclosure Event(s).
Date: April 19, 2013 Category: Customer Dispute Allegations: CLAIMANTS ALLEGE THAT, VIA A 1031 EXCHANGE, REPRESENTATIVE RECOMMENDED THE UNSUITABLE PURCHASE OF THREE TENNANT IN COMMON PROPERTIES AND MISREPRESENTED THE RISK ASSOCIATED WITH THESE INVESTMENTS. Damage Amount Requested: $1,074,286.30 Settlement Amount: $275,000.00 Broker Comment: CLIENT PURCHASED MULTIPLE PROPERTIES (MULTIFAMILY AND OFFICE) AFTER CAREFULLY REVIEWING ALL INFORMATION WITH CLIENT'S CPA AND ATTORNEY. CLIENT WAS SOLICITED BY AN OUT OF STATE (FL.) ATTORNEY LOOKING FOR CLIENTS WHO PURCHASED REAL ESTATE VIA A 1031 EXCHANGE. REAL ESTATE WENT DOWN IN VALUE ACROSS THE UNITED STATES IN THE 2008-2009 RECESSION. THIS MATTER WAS SETTLED WITH NO INPUT FROM THE CPA, CLIENTS FORMER ATTORNEY AND THE REGISTERED REPRESENTATIVE WILLIAM ZENK. ALL THREE OF THESE PARTIES WERE READY TO TESTIFY CLIENT WAS FULLY AWARE OF THE FACT THAT REAL ESTATE CAN GO DOWN IN VALUE AND IS NOT A LIQUID INVESTMENT. HOWEVER, THESE PARTIES WERE NEVER ASKED FOR ANY INPUT NOR ALLOWED TO PRESENT INFORMATION PROVING CLIENT WAS FULLY AWARE OF RISKS ASSOCIATED WITH PURCHASING REAL ESTATE. THE BROKER DEALER SETTLED WITHOUT ANY ADMISSION OF WRONGDOING TO AVOID THE EXPENSE AND TIME OF A LAWSUIT. CLIENT INSISTED IN PURCHASING THESE PROPERTIES TO AVOID PAYING CAPITAL GAINS TAX ON OVER A MILLION DOLLAR SALE OF ANTHER PROPERTY. CLIENT, CLIENT'S CPA AND CLIENT'S ESTATE PLANNING ATTORNEY WERE ALL PRESENT AT MEETINGS AND REVIEWED ALL MATERIALS AND ELECTED TO MOVE FORWARD WITH PURCHASE OF REPLACEMENT PROPERTIES.
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