John Thomas Allegedly Recommended Unsuitable Alternative Investments

John Thomas (CRD #: 4679845), a broker registered with Madison Avenue Securities, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on September 25, 2022. Investors may have also engaged his services through Global Wealth Management Investment Advisory. Keep reading if you have questions about his conduct as a broker.

Investor Dispute

In a dispute filed on August 8, 2022, an investor alleged that John Thomas made unsuitable recommendations of annuities and alternative investments. The client seeks $100,000 in this pending dispute. Alternative investments are always higher risk and are not suitable for most investors. 

FINRA Rule 2111

FINRA Rule 2111 requires brokers to consult investors’ profiles when recommending investments. These profiles describe an investor’s age, tax status, and other characteristics.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

Background Information

John Thomas has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 4 – Registered Options Principal Examination
• Series 24 – General Securities Principal Examination
• Series 27 – Financial and Operations Principal Examination
• Series 53 – Municipal Securities Principal Examination

John Thomas is a registered broker in eight states and a registered investment adviser in Florida.

He has also worked for the following firms:

• Global Financial Private Capital (CRD#:132070)
• G.F. Investment Services (CRD#:132939)
• Raymond James Financial Services Advisors (CRD#:149018)
• Raymond James Financial Services (CRD#:6694)
• Costa Financial Group (CRD#:111218)
• Costa Financial Securities (CRD#:45039)

Kurta Law Can Help

If you worked with John Thomas and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.