Tunink is the subject of 17 disclosures. His discharge from LPL is dated September 8, 2025, indicating that the firm terminated his employment after failing to disclose that he was borrowing money from customers. He also did not receive the firm’s permission before taking out loans from customers or settling a customer dispute outside of the firm. All the remaining disclosures are customer disputes, with one closed without action.
The remaining 16 disclosures are customer disputes filed from 8/1/2025 to 11/17/2025. These disclosures are either pending or settled, except for one. These disclosures include allegations that Tunink:
- Borrowed money from clients for investments that were neither offered nor sanctioned by LPL Financial
- Selling away by selling investment units and entering into a “Silent Partner Agreement” outside of LPL Financial
- Borrowing $140,000 from a customer and not paying it back (dispute settled for $130,600).
The collective total of all pending disputes is $1,754,496.00, and the settled disputes total $971,166.00.
One dispute, dated 10/16/2025, with similar allegations, was closed with no action. This dispute alleges borrowing money for an investment opportunity outside of the firm, requesting $91,800 in damages. It was closed with no action and no further explanation.
Tunink has no other disclosures.
Why “Selling Away” Increases Your Risks
If your broker suggests purchasing securities that are not vetted, underwritten, and sold by their firm, exercise caution. The broker may be selling securities that have not been reviewed, analyzed, or subjected to due diligence for legitimacy, risk possibilities, or compliance by the broker-dealer.
Buying these unsanctioned investments removes most of the regulatory oversight, firm supervision, and investor protections you are supposed to have as a customer. If the unsanctioned security goes wrong, you may have little to no recourse for any lost investment funds. Additionally, the firm may argue it is not responsible because the broker acted outside the scope of employment, making it harder and more expensive for you to recover losses.
Many unregulated or off-platform offerings are high-risk, complex, or opaque, with limited disclosure, high commissions, and a history of investor losses and scams. These investments may be ones the firm refused to approve, because they were too speculative, illiquid, or unsuitable for retail clients, even those with higher risk tolerance. The transaction is not supervised or recorded on the firm’s systems. Therefore, it falls outside the normal compliance and surveillance program that is designed to protect customers.
Brokers may be offered substantial commissions and incentives for selling these investments, creating a conflict of interest. Therefore, unapproved products are often precisely the ones regulators see in enforcement cases and fraud schemes.
There are rare occasions when a customer may want to invest in something that a broker’s firm doesn’t offer. In this case, some broker-dealers will allow selling away if the customer wants to invest in a specific investment. However, the broker must request and obtain the firm’s written permission before the transaction.
Before investing in anything your broker recommends, it’s important to complete your own due diligence to ensure that you understand the risks, what’s involved, liquidity, and the potential for losses should something go wrong with the investment. Don’t be afraid to ask questions of your broker or others in your research.
Did You Invest With William Bernard Tunink?
Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today at (800) 975-4345 to discuss your case and legal options.