Thomas Lisk Allegedly Recommended Unsuitable Investments

Thomas Lisk (CRD #: 5010650), a broker registered with Realta Equities, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on April 24, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On April 8, 2024, an investor alleged that Thomas List recommended unsuitable investments. The investor is seeking $250,000. 

There are similar allegations dated March 1, 2024, and February 5, 2024. The investors are seeking $100,000 and $105,000, respectively. 

Unsuitable Investments  

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Excessive trading, which violates the need for quantitative suitability. This means that the number of trades must suit an investor’s goals. Excessive trading is also known as “churning.” 
• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information 

Thomas Lisk has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 99TO Operations Professional Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination
• Series 24 General Securities Principal Examination 

He is a registered broker in seven states and is a registered investment adviser in Virginia. 

During his 18 years of experience, Thomas Lisk has registered with eight firms. These are the four most recent: 

• Realta Equities (CRD #: 23769) 
• Realta Investment Advisors (CRD #: 134952) 
• Arete Wealth Advisors (CRD #: 145488) 
• Center Street Securities (CRD #: 26898) 

Kurta Law Can Help 

If you have worked with Thomas Lisk 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.