The White Law Group Files FINRA Claim Against Centaurus Financial Alleging Unsuitable Alternative Investments
Chicago, IL — The White Law Group announced today that it has filed a FINRA arbitration claim on behalf of a Texas resident against Centaurus Financial, Inc., alleging that the firm and its broker recommended unsuitable, illiquid, and high-risk alternative investments.
According to the Statement of Claim, the customer was advised to invest in Tasty Brands, LP, Mackenzie Realty Capital, Inc., and Rodin Global Property Trust—investments that may not have aligned with the claimant’s risk tolerance, liquidity needs, or investment objectives. The damages sought in the arbitration are between $100,000 and $300,000.
“This case highlights the continued risks retail investors face when they are steered into complex and illiquid alternative investments without proper suitability analysis,” said Dax White, Managing Partner of The White Law Group. “Broker-dealers and their representatives have a duty to ensure that investment recommendations truly fit the client—not the commission structure.”
Broker of Record: William Charles Burks II
The broker of record in this matter is William Charles Burks II (also known as Bill Burks II), CRD No. 2944992. Burks has been registered with Centaurus Financial since 2000 and has more than 28 years of experience in the securities industry.
Public records show that Burks has been the subject of multiple customer disputes alleging unsuitable, speculative, and illiquid investment recommendations. Notably:
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August 2025 – FINRA Regulatory Action (AWC): FINRA sanctioned Burks for recommending that customers hold an unsuitably high concentration of illiquid alternative investments, including non-traded REITs, BDCs, and interval funds. He consented to a $10,000 fine and a four-month suspension without admitting or denying the findings.
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Multiple Customer Settlements: Prior customer disputes involving allegations of unsuitable alternative investments were settled for substantial amounts, including settlements of $287,500 and $299,000.
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Pending Customer Complaints: Burks is currently named in additional pending FINRA arbitration matters alleging unsuitable and illiquid investment recommendations, with claimed damages ranging from $80,000 to $200,000.
The newly filed claim follows a similar pattern, alleging that from approximately 2018 through 2023, the claimant was recommended alternative investments that carried significant liquidity constraints and risk of loss.
About the Claim
The arbitration was filed with FINRA Dispute Resolution on behalf of a Texas investor. The White Law Group alleges violations of FINRA suitability rules, misrepresentations and omissions, failure to supervise, and related misconduct.
Investors who purchased illiquid alternative investments through Centaurus Financial or William Charles Burks II and suffered losses may have recovery options through FINRA arbitration.
For more information, visit The White Law Group’s resources on Centaurus Financial and William Burks II. For a free consultation please call 888-637-5510 or you can contact us here.
About The White Law Group
The White Law Group is a nationally recognized securities fraud law firm representing investors in FINRA arbitration and litigation involving broker misconduct, unsuitable investments, and investment fraud.
Frequently Asked Questions
Can investors recover losses from unsuitable alternative investments?
Yes. Investors who were recommended unsuitable or excessively risky alternative investments—such as non-traded REITs or private placements—may be able to seek recovery through FINRA arbitration. Claims often allege violations of FINRA suitability rules, misrepresentations, or failure to supervise, depending on the facts of the case.
Is Centaurus Financial responsible for a broker’s unsuitable recommendations?
Broker-dealers such as Centaurus Financial, Inc. may be held responsible under FINRA rules for failing to properly supervise their registered representatives. If unsuitable investment recommendations occurred, the firm’s supervisory practices, compliance systems, and approval of alternative investments may be examined in arbitration.
What should investors do if they believe their broker recommended illiquid or high-risk investments?
Investors should promptly review their account statements and offering documents and consider consulting a securities fraud attorney to evaluate whether the recommendations were suitable. There are strict time limits for filing FINRA arbitration claims, so delays could affect an investor’s ability to pursue recovery.
Last modified: February 26, 2026
