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Thomas Shultz Allegedly Failed to Conduct Due Diligence

Thomas Shultz (CRD #: 5614228), a broker registered with Titan Securities, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on August 7, 2022. Keep reading to learn more about his conduct as a broker.

Investor Dispute

On May 23, 2022, an investor alleged that Thomas Shultz gave unsuitable investment recommendations and failed to conduct adequate due diligence with regards to GWG Holdings. This dispute is pending.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires brokers to recommend securities that sufficiently fit an investor’s financial goals. Brokers must consider the information in an investor’s profile, including the client’s age, tax status, and other investments when making recommendations.

In connection with FINRA Rule 2111, the SEC’s Regulation Best Interest (Reg-BI) requires brokers to put their clients’ best interests first and to perform due diligence when researching and recommending investments.

Background Information

Thomas Shultz has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination 

Thomas Shultz is a registered broker in 13 states and the District of Columbia. He is also a registered investment adviser in Arizona.

He has also worked for the following firms:

  • Coastal Investment Advisors (CRD#:134952)
  • Coastal Equities (CRD#:23769)
  • Investment Advisors (CRD#:15708)
  • MML Investors Services (CRD#:10409)
  • ProEquities (CRD#:15708)
  • UVEST Financial Services Group (CRD#:13787)

Kurta Law Can Help

If you worked with Thomas Shultz and you have concerns about your investments, please contact us today at 877-600-0098 or 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 and 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.