Thomas MacDonnell Allegedly Recommended Unsuitable Investments

Thomas MacDonnell (CRD #: 1924888), a broker registered with Centaurus Financial, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on April 26, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations

On February 28, 2024, investors alleged that Thomas MacDonnell recommended unsuitable investment strategies and unsuitable illiquid investments. 

FINRA Rule 2111 – Unsuitable Illiquid Investments

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Brokers must also consider the investment time horizon and the investor’s liquidity needs – illiquid, long-term investments often do not suit a client’s best interests.  

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

Background Information 

Thomas MacDonnell 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 7 General Securities Representative Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker in nine states and is a registered investment adviser in nine states. 

During his 31 years of experience, Thomas MacDonnell has registered with the following firms: 

• Centaurus Financial (CRD #: 30833) 
• Signator Investors (CRD #: 468) 
• John Hancock Mutual Life Insurance Company (CRD #: 5181) 
• MetLife Securities (CRD #: 14251) 
• Metropolitan Life Insurance Company (CRD #: 4095) 

Kurta Law Can Help 

If you have worked with Thomas MacDonnell 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.