Thomas Hulick is the Subject of a Closed-End Income Fund Dispute
Thomas Hulick (CRD #: 1806305), a broker previously registered with Newbridge Securities Corporation, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on October 26, 2025. Keep reading if you have questions regarding his alleged conduct.
Investor Allegations
On August 25, 2025, an investor named Thomas Hulick in a dispute alleging the recommendation of an unsuitable closed-end income fund. The investor is seeking $500,000.
This is the second investor dispute on his record.
What is a Suitable Investment?
FINRA defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age.
FINRA Rule 2111 identifies the three prongs of a suitability determination as 1) reasonable-basis suitability, 2) customer-specific suitability, and 3) quantitative suitability.
- Reasonable-basis Suitability: Brokers are required to use reasonable diligence before making a recommendation. This means they have an obligation to understand an investment strategy and its potential risks or rewards.
- Customer-specific Suitability: Before recommending a particular security or investment strategy involving a specific client, brokers are required to have reasonable grounds for believing it will be suitable based on that client’s personal profile. The profile includes information on the investor’s financial goals, investing experience, and risk tolerance.
- Quantitative Suitability: Brokers with control over a customer’s account must have a reasonable basis to believe that the series of transactions they recommend are not excessive before executing them. Excessive transactions run the risk of incurring too many fees and negating any returns.
Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.
Background Information
Thomas Hulick 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 31 Futures Managed Funds Examination
- Series 7 General Securities Representative Examination
He has registered with the following firms:
- Newbridge Securities Corporation (CRD #: 104065)
- Monarch Bay Securities (CRD #: 141391)
- Uvest Financial Services Group (CRD #: 13787)
- UBS Financial Services (CRD #: 8174)
- Banc of America Investment Services (CRD #: 16361)
- Morgan Stanley DW (CRD #: 7556)
Kurta Law Can Help
If you worked with Thomas Hulick 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 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.