Thomas Koss Involved in an Investor Dispute
Thomas Koss (CRD #: 2314629), a broker registered with LPL Financial, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on October 23, 2023. Details are provided below.
On August 30, 2023, an investor alleged that Thomas Koss recommended unsuitable investments. He also alleged he asked the advisor about shorting the market prior to a downturn, which the advisor allegedly ignored.
The dispute was denied, 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.
What is an Unsuitable Investment?
FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:
- Risk tolerance
- Time horizon (i.e., how long the investor plans to hold the investment)
- Investing experience
- Tax status
- Financial goals
Thomas Koss has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
He is a registered broker in seven states and is a registered investment adviser in Wisconsin.
Thomas Koss has registered with the following firms:
- LPL Financial (CRD #: 6413)
- Ameriprise Financial Services (CRD #: 6363)
- IDS Life Insurance Company (CRD #: 6321)
Kurta Law Can Help
If you worked with Thomas Koss and have concerns about your investments, please contact us today at 877-600-0098 or email@example.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.