MONTICELLO, INDIANA
Have you lost money with financial advisor William Novack (Bill Novack) of Monticello, Indiana? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority. FINRA barred William Novack after he failed to respond to an investigation. Bill Novack was being investigated regarding after another advisor, James Schumaker, allowed his father Jeffrey Schumaker (who was disqualified from the securities industry) to engage in securities business.
William Novack (Bill Novack) was a financial advisor and registered representative of TransAmerica Financial Advisors from 2004 to May 2016. He was also with Signator Investors from May 2016 to November 2017; with OneAmerica Securities from November 2017 to July 2018; with Cambridge Investment Research from August 2018 to September 2019; and with CFD Investments from September 2019 to February 2021. He worked at branch offices in Monticello, Indiana. Novack was also allowed to resign by CFD Investments.
Brokerage firms like TransAmerica Financial Advisors, Signator Investors, OneAmerica Securities, and Cambridge Investment Research have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Ann Arbor, Michigan; Denver, Colorado; Seattle, Washington; and Phoenix, Arizona. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Indiana. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against TransAmerica Financial Advisors and Cambridge Investment Research.