William Tell Services, LLC v. Capital Financial Planning, LLC

OPINION OF THE COURT

George B. Ceresia, Jr., J.

The plaintiff William Tell Services, LLC (William Tell or plaintiff) and third-party defendant Joseph Ventura, the principal of William Tell, are securities brokers. Under applicable securities laws, in order to sell securities, a securities broker must be affiliated with a broker-dealer. As relevant here, until February 3, 2011, William Tell and Ventura were affiliated with an entity known as ING Financial Partners (ING Financial), a registered broker-dealer. This arrangement permitted plaintiff and Ventura to sell the financial products of ING *579Fi…