William “Bill” Tunink FINRA Bar – 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 the Financial Industry Regulatory Authority permanently barred him from the securities industry on June 16, 2026. The bar follows more than two dozen customer complaints alleging Tunink borrowed money from clients for outside investment opportunities and, in at least one case, engaged in selling away. Investors who believe they were harmed may be able to pursue recovery through a FINRA arbitration claim against his former employing firm.
Background: Who Is William “Bill” Tunink?
Tunink was reportedly registered with LPL Financial LLC (October 2021–September 2025) in West Des Moines, Iowa, and before that with Avantax Investment Services, Inc. (1996–2021), giving him nearly 30 years in the securities industry. He is not currently registered with any FINRA member firm.
FINRA Permanently Bars Tunink
According to his FINRA BrokerCheck report, FINRA reportedly suspended Tunink in all capacities effective April 6, 2026, after he allegedly failed to respond to the regulator’s requests for information under FINRA Rule 8210 (Docket/Case No. 2025087113601). Because Tunink did not request termination of the suspension within three months, it automatically converted into a permanent bar on June 16, 2026. It’s worth noting the bar itself was entered for failing to cooperate with FINRA’s investigation — it is not a formal adjudication of the underlying loan and selling away allegations, most of which were separately settled by LPL Financial or remain pending in arbitration.
Customer Complaints Involving William “Bill” Tunink
A review of Tunink’s FINRA BrokerCheck report as of August 2026 reportedly shows 26 total disclosures: one regulatory action, one employment separation for cause, and 24 customer disputes — nearly all alleging that he borrowed funds from clients for investment opportunities away from LPL Financial, without the firm’s knowledge or approval.
- 19 settled disputes, for a combined total of more than $2.1 million, including individual settlements ranging from $25,000 to over $206,000.
- 3 pending disputes, with combined alleged damages of roughly $1.44 million — including a $1,000,000 FINRA arbitration claim (Case No. 25-02344) alleging loans taken between November 2024 and September 2025, a $346,874 breach-of-contract lawsuit filed in Iowa District Court for Polk County (Case No. LACL163952), and a $91,800 FINRA arbitration claim (Case No. 26-00154).
- 2 denied disputes, with combined alleged damages of roughly $646,700, where the parties could not agree on settlement terms.
On September 8, 2025, LPL Financial reportedly discharged Tunink, stating he “failed to disclose and receive prior approval for loans from customers, and settled a customer complaint away from the firm.” At least one disclosure specifically describes the conduct as selling away, alleging Tunink sold investment units and entered into a silent partner agreement with a customer; that matter settled for $205,376.
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 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, and enforce policies prohibiting advisors from soliciting loans. Given the volume and similarity of the complaints against Tunink — nearly two dozen alleging the same basic pattern over roughly a year — investors may have grounds to question whether his firm’s supervisory systems were adequate. If a firm fails to properly supervise a financial advisor, it may be held liable for resulting investor losses through a FINRA arbitration claim.
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, and 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, national securities fraud attorneys with offices in Chicago and Seattle, 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, contact us or 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. FINRA disclosures describe at least one Tunink dispute using this specific term.
2. Is William Tunink barred or suspended by FINRA?
He is barred. FINRA initially suspended Tunink effective April 6, 2026, for allegedly failing to respond to its requests for information. Because he did not seek to lift the suspension within three months, it automatically converted to a permanent bar on June 16, 2026 — meaning he can no longer associate with any FINRA member firm in any capacity.
3. Are the claims against Tunink lawsuits, or something else?
Most are FINRA arbitration claims and firm-settled customer complaints, not civil lawsuits. One matter — a breach-of-contract claim over unpaid loans — was filed as a civil lawsuit in Iowa District Court for Polk County. If you loaned Tunink money or invested with him, an attorney can help determine the right forum for a claim.
