Thomas Avant Allegedly Recommended an Unsuitable Investment

Thomas Avant (CRD #: 1359654), a broker registered with Wells Fargo Clearing Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on December 6, 2023. Keep reading if you have questions about his alleged conduct. 

On September 21, 2023, investors complained that Thomas Avant applied an investment strategy that did not apply to their phase of life and investment objectives. FINRA’s suitability rule specifies that brokers must take investment objectives and the client’s age into consideration. In addition, brokers should factor in the investor’s tax status, liquidity needs, and other investments. 

The dispute was denied by the firm, but investors should know that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Unsuitable investments violate this rule. 

Background Information 

Thomas Avant has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination
• Series 10 General Securities Sales Supervisor – General Module Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 

He is a registered broker in 24 states and is a registered investment adviser in Oklahoma. 

Thomas Avant has registered with the following firms: 

• Wells Fargo Clearing Services (CRD #: 19616) 
• A.G. Edwards & Sons (CRD #: 4) 
• Capital West Securities (CRD #: 38182) 
• Stifel Nicolaus & Company (CRD #: 793) 

Kurta Law Can Help 

If you have worked with Thomas Avant and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.