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Troy Thomas Allegedly Recommended Unsuitable Investments

Troy Thomas (CRD #: 4691720), a broker registered with McDermott Investment Services, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on March 28, 2023. Investors may have also engaged his services through McDermott Investment Advisors. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On January 17, 2023, an investor filed a dispute alleging Troy Thomas gave unsuitable investment recommendations that failed to fit the client’s risk tolerance and investment objectives. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must use the information in an investor’s profile, such as their tax status, age, and risk tolerance when making recommendations.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

Background Information

Troy Thomas has passed the following exams:

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

Troy Thomas is a registered broker in all 50 states and the District of Columbia. He is also a registered investment adviser in California.

He has also worked for the following firms:

  • Centaurus Financial (CRD#:30833)
  • Direct Capital Securities (CRD#:29639)
  • MCL Financial Group (CRD#:41180)

Kurta Law Can Help

If you worked with Troy Thomas 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. 

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