Thomas Billington Allegedly Failed to Mention No-Fee Accounts

Thomas Billington (CRD #: 5352766), a broker registered with Wells Fargo Clearing Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on May 28, 2024. Keep reading if you have questions concerning his alleged conduct. 

Investor Allegations

On March 14, 2024, an investor alleged that Thomas Billington failed to mention the availability of no-fee accounts and that the investor paid fees without seeing any benefit. The firm denied the dispute, but investors should know that firms can deny disputes without any external review. Investors can still recover losses following a denial. 

Investors should know that this is the second investor dispute on his record. 

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Failing to inform a client of no-fee accounts may violate this rule. 

Background Information 

Thomas Billington 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 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in 25 states and is a registered investment adviser in North Carolina and Texas. 

During his 15 years of experience, he has registered with three firms: 

• Wells Fargo Clearing Services (CRD #: 19616) 
• Fidelity Brokerage Services (CRD #: 7784) 
• Fidelity Investments Institutional Services Company (CRD #: 17507) 

Kurta Law Can Help 

If you have worked with Thomas Billington and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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.