Investors Seek Over $3 Million in Damages in Disputes with J.R. Thacker

J.R. Thacker (CRD #: 2754773), a broker formerly registered with Realta Equities, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on January 14, 2025. Details of these allegations are provided below. 

Investor Disputes

From 2023-2024, investors filed 18 disputes alleging that J.R. Thacker made unsuitable investment recommendations. The clients seek a collective $3,115,278 in damages in these pending disputes.

What is an unsuitable investment? 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Excessive trading, which violates the need for quantitative suitability. This means that the number of trades must suit an investor’s goals.
• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.

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

Background Information 

J.R. Thacker has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 99TO Operations Professional Examination
• Series 52TO Municipal Securities Representative Examination 
• Series 79TO Investment Banking Registered Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 
• Series 53 Municipal Securities Principal Examination 
• Series 24 General Securities Principal Examination 
• Series 14 Compliance Officer Examination

J.R. Thacker has registered with the following firms: 

• Realta Equities (CRD#:23769)
• Center Street Securities (CRD #: 26898)
• Arete Wealth Management (CRD #:44856)
• Kalos Capital (CRD #: 44337) 
• Dortch Securities & Investments (CRD #: 42207) 
• Signator Investors (CRD #: 468) 
• John Hancock Mutual Life Insurance Company (CRD #: 5181) 

Kurta Law Can Help

If you worked with J.R. Thacker and 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 that 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.