Thomas Paine is the Subject of an Alternative Investment Dispute

Thomas Paine (CRD #: 2285372), a broker registered with Centaurus Financial, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on March 22, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On December 19, 2023, an investor alleged that Thomas Paine recommended an unsuitable investment and unsuitable investment strategies in various illiquid alternative investments. 

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:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

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

Background Information

Thomas Paine has passed the following exams:

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 7TO General Securities Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 62 Corporate Securities Limited Representative Examination 
• Serie 22 Direct Participation Programs Representative Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in Alaska, California, and New Mexico. 

During his 31 years of experience, Thomas Paine has registered with five firms: 

• Centaurus Financial (CRD #: 30833) 
• Carey James & Associates (CRD #: 125210) 
• G – W Brokerage Group (CRD #: 22691) 
• Monterey Bay Securities (CRD #: 16274) 
• Jackson National Financial Services (CRD #: 29604) 

Kurta Law Can Help 

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