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Jesse Thomas Allegedly Misrepresented Variable Annuities

May 16, 2023 Misrepresentation

Jesse Thomas (CRD #: 3168447), a broker registered with Equitable Advisors, allegedly made misrepresentations, according to his BrokerCheck record, accessed on May 11, 2023. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On April 18, 2023, an investor alleged that Jesse Thomas misrepresented variable annuities purchased by the client in 2023. The client further alleged that he fraudulently signed her name on a form. This dispute is currently pending.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deception, manipulation, and other fraudulent tactics to influence the purchase and sale of securities. Misrepresenting an investment’s requirements, fees, or other features violates this rule.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

What are Variable Annuities?

Variable annuities are complex investments. These policies can decline in value depending on the performance of the underlying security. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Background Information

Jesse 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 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 24 – General Securities Principal Examination

Jesse Thomas is a registered broker in 15 states and a registered investment adviser in ten states.

He previously worked for The Equitable Life Assurance Society of the United States (CRD#:4039).

Kurta Law Can Help

If you worked with Jesse Thomas and you have concerns about your investments, please contact us today at 877-600-0098 or 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.