Former LPL Advisor Bill Tunink Lawsuit & Multiple Complaints
Updated September 30, 2026
Bill Tunink, a former LPL Financial advisor in West Des Moines, Iowa, faces a pending lawsuit and reportedly has 24 customer complaints on his record. Nearly all allege he borrowed money from clients for investments away from his firm. The White Law Group is investigating complaints involving William (Bill) Tunink (CRD# 2738224). Here is what is on his record and what your options may be. Investors who lost money may be able to recover through a FINRA arbitration claim.
Bill Tunink Complaints: What His BrokerCheck Record Shows
Tunink’s FINRA BrokerCheck report lists 26 disclosures: 24 customer disputes, one regulatory action, and one firing. Every customer dispute names LPL Financial as his firm at the time. Here is where those disputes stand:
- 20 settled for about $2.45 million combined. Settlements range from $25,000 to $299,000.
- 2 pending seeking about $438,700 combined, including a civil lawsuit.
- 2 denied seeking about $646,700 combined.
LPL Financial paid about $2.32 million of the settlements. Tunink personally paid $130,600 to settle one claim from a customer who said a $140,000 loan was never repaid.
Bill Tunink Lawsuit and Pending Arbitration
A civil lawsuit against Tunink is pending in Iowa District Court for Polk County (Case No. LACL163952). The plaintiffs allegedly claim he breached contracts by failing to repay loans made between January and October 2024. They seek $346,874.
A separate FINRA arbitration claim (Case No. 26-00154) is also pending. That customer alleges Tunink borrowed money for an investment away from LPL Financial and seeks $91,800.
Largest Claim Settles for $299,000
On August 11, 2026, a $1 million FINRA arbitration claim (Case No. 25-02344) settled for $299,000. The customer alleged Tunink took loans between November 2024 and September 2025, some used for an investment away from the firm. It is the largest settlement on his record.
Why LPL Financial Fired Tunink
LPL Financial discharged Tunink on September 8, 2025. The firm said he failed to disclose and get approval for loans from customers, and settled a customer complaint away from the firm. Several complaints involve promissory notes, silent partner agreements, and private securities. One settled for $205,376 and specifically alleged selling away.
FINRA Bars Bill Tunink
FINRA suspended Tunink on April 6, 2026, for allegedly failing to respond to its requests for information (Case No. 2025087113601). He did not ask to end the suspension within three months. It became a permanent bar on June 16, 2026. The bar is for not cooperating with FINRA. It is not a ruling on the loan allegations.
Tunink’s Work History
Tunink was registered with LPL Financial from October 2021 to September 2025. Before that, he spent about 25 years with Avantax Investment Services, also in West Des Moines. He also reported an outside business, A&C Tax and Bookkeeping, doing business as Tunink Murray Financial Group.
How to Recover Money Lost with Bill Tunink
If you loaned money to Tunink or invested with him while he worked at LPL Financial, you may be able to recover your losses. Deadlines apply, so act promptly. Our FINRA arbitration attorneys can review your situation at no cost.
Contact The White Law Group
The White Law Group, national securities fraud attorneys with offices in Chicago and Seattle, represents investors in FINRA arbitration claims nationwide. If you have questions about Bill Tunink, call (888) 637-5510 for a free consultation or contact us online.
Frequently Asked Questions About Bill Tunink
Q1: How do I file a claim to recover money I invested or loaned through Bill Tunink?
A1: Most claims against a broker and the firm are filed through FINRA arbitration, not court. Most brokerage account agreements typically include a pre-dispute arbitration clause, which many investors do not know about. Arbitration can still end in a money recovery, and 20 disputes involving Tunink have already settled.
Q2: What is selling away, and why does it matter for my investment?
A2: Selling away is when a broker sells an investment the firm has not approved and does not know about. These deals skip the firm’s review, so investors lose a key layer of protection. At least one complaint against Tunink alleges selling away through investment units and a silent partner agreement.
Q3: Can LPL Financial be held responsible if it did not know about the loans or investments?
A3: Yes, it can. Brokerage firms must supervise their brokers and watch for red flags like client loans and outside business deals. If a firm should have caught the misconduct and did not, it may be liable for failing to supervise.
