Tom Holly Involved in a Six-Figure Investor Dispute

Tom Holly (CRD #: 1713313), a broker registered with B. Riley Wealth Management, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on October 10, 2022. Investors may have also engaged his services through B. Riley Wealth Advisors. If you have questions about his conduct as a broker, read on.

Investor Dispute

On July 18, 2022, multiple investors alleged that Tom Holly recommended an unsuitable and risky investment in a GWG Holdings private placement. GWG has since filed for bankruptcy. The clients seek $100,000 in this pending dispute. 

Investors should know that there are four other investor disputes on Tom Holly’s record. 

FINRA Rule 2111

FINRA Rule 2111 requires brokers to consider investors’ financial goals when recommending investments. Brokers consult the investor’s profile, which describes their age, tax status, and risk tolerance, among other things.

Investors who rely on their broker for recommendations may be able to recover their funds through FINRA arbitration.

Background Information

Tom Holly 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 24 – General Securities Principal Examination

Tom Holly is a registered broker in 34 states and a registered investment adviser in Florida and Texas.

He has also worked for the following firms:

• National Securities Corporation (CRD#:7569)
• Summit Financial Group (CRD#:109485)
• Summit Brokerage Services (CRD#:34643)
• Wachovia Securities Financial Network (CRD#:11025)
• JWGenesis Securities (CRD#:33832)
• D. Blech & Company (CRD#:26063)
• Thomas James Associates (CRD#:15609)
• J. W. Gant & Associates (CRD#:7963)

Kurta Law Can Help

If you worked with Tom Holly and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.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 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.