Broker Investigation: William “Bill” Tunink – Multiple Customer Complaints, Selling Away Allegations & Investor Recovery Options

The White Law Group is investigating potential securities claims involving former financial advisor William Bernard (Bill) Tunink (CRD#: 2738224) after numerous customer complaints and allegations of borrowing money from clients for outside investment opportunities.

Tunink was previously a registered broker and investment adviser with LPL Financial LLC (2021–2025) and Avantax Investment Services, Inc. (1996–2021), accumulating more than 29 years of industry experience.

According to his FINRA BrokerCheck report, Tunink reportedly has nine disclosures, including multiple pending and settled customer disputes, all alleging similar misconduct: loans from customers, outside investment schemes, and selling away. He currently holds no FINRA registrations.

Customer Complaints Involving William “Bill” Tunink

Between August and October 2025 alone, several customers filed disputes—many still pending—alleging that Tunink:

• Borrowed funds from clients for purported investment opportunities “away from the firm.”

• Failed to repay loans, sometimes documented through contracts or silent partner agreements.

• Engaged in selling away by soliciting investments in outside ventures not approved by his employer.

Examples of recent allegations include:

• October 27, 2025 – Pending: Loan-related allegations involving approximately $205,000.

• October 6, 2025 – Pending: Two disputes alleging unauthorized loans for outside investments, totaling over $370,000.

• September 30, 2025 – Pending: Breach of contract for unpaid loans between January and October 2024 ($346,874 requested).

• September 22, 2025 – Pending: Selling away allegations involving investment units and a silent partner agreement ($205,376 requested).

• Multiple settled disputes in 2025, including settlements of $115,000, $25,000, and $130,600, also tied to alleged customer loans.

On September 8, 2025, LPL Financial discharged Tunink for failing to disclose and obtain approval for loans from customers, and for settling a customer complaint away from the firm.

Broker Due Diligence & Failure to Supervise

Broker-dealers such as LPL Financial and Avantax have a regulatory obligation to supervise their representatives and ensure they present only approved investment products and do not engage in prohibited conduct such as borrowing from clients or selling away.

Firms must:

• Monitor outside business activities

• Review and approve customer transactions

• Detect red flags indicating potential misconduct

• Enforce policies prohibiting advisors from soliciting loans

If a firm fails to properly supervise a financial advisor, it may be held liable for resulting investor losses through a FINRA arbitration claim.

Given the pattern of similar allegations against Tunink—most involving customer loans and investments outside the firm—investors may question whether the supervisory systems in place were adequate.

FINRA Arbitration for Investor Loss Recovery

If you invested with Bill Tunink or loaned him money based on an investment recommendation, you may be eligible to file a FINRA arbitration claim against the brokerage firm that employed him. FINRA arbitration provides a streamlined, cost-effective process for recovering losses caused by:

• Selling away

• Unauthorized outside investments

• Misrepresentation or omission

• Failure to supervise

• Breach of fiduciary duty

You typically have limited time to file a claim, so taking action promptly is important.

Free Consultation With a Securities Attorney

The White Law Group represents investors nationwide in FINRA arbitration claims involving broker misconduct, fraud, and failure to supervise.

If you believe you were harmed by Bill Tunink, or if you have questions about your options, call The White Law Group at (888) 637-5510 for a free consultation.

Frequently Asked Questions (FAQs)

1. What is “selling away”?
Selling away occurs when a broker sells or recommends investment opportunities that are not approved or supervised by their brokerage firm.

2. Can I recover money I loaned to my advisor if it was not disclosed to the firm?
Possibly. If the firm failed to supervise the advisor or ignored red flags, you may be able to pursue a FINRA arbitration claim for losses.

3. Does it matter that the advisor is no longer registered?
No. Claims are typically filed against the brokerage firm, not the individual advisor, based on failure to su