Eugene Thompson Involved in Suitability Dispute

Eugene Thompson (CRD #: 4350479), a broker registered with Capital Investment Group, is involved in a pending dispute, according to his BrokerCheck record, accessed on August 27, 2022. Investors may have also engaged his services through Capital Investment Advisory Services. Keep reading if you have questions about his conduct as a broker.

Investor Dispute

On July 12, 2022, an investor alleged that Eugene Thompson facilitated the purchase of $130,000 in unsuitable investments in GWG Holdings in February 2021. The client seeks $130,000 in damages in this pending dispute.

GWGH L Bonds

GWG filed for bankruptcy following a suspension of its payouts. Numerous investors have alleged that L bonds were too risky for their portfolios. 

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Brokers must tailor their investment recommendations using the following characteristics described in an investor’s profile:

• Age
• Financial goals
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status

Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

Background Information

Eugene Thompson 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

Eugene Thompson is a registered broker in seven states and a registered investment adviser in North Carolina.

He previously worked for Wells Fargo Advisors (CRD#:19616).

Kurta Law Can Help

If you worked with Eugene Thompson 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.