Bob Thompson: FINRA Bars Former ON Equity Sales Advisor

Former Houston, Texas financial advisor Bob Thompson (CRD# 713539) was recently sanctioned and barred in connection with alleged rule violations. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that he was previously registered as a broker with The ON Equity Sales Company and an investment advisor with ON Investment Management.

A Letter of Acceptance, Waiver, and Consent (No. 2025088064301) describes FINRA’s disciplinary action against Mr. Thompson. Filed in October 2026, it alleges that he refused to provide documents and information requested as part of a FINRA investigation into whether he “misappropriated customer funds and engaged in undisclosed outside business activities.” FINRA found that his refusal constituted a violation of FINRA Rules 8210 and 2010, barring him from associating with any member firm in any capacity.

A disclosure on Mr. Thompson’s BrokerCheck report concerns his termination from The ON Equity Sales Company. Filed in 2025, it states that the firm fired him after it received a lawsuit alleging that he “misappropriated funds from a customer, acted as POA without firm consent and set up multiple shell companies designed as OBAs without disclosure or firm consent.”

A second disclosure on his BrokerCheck report concerns an investor complaint against him. Filed in 2025, it alleges that he “misappropriated monies awarded to the customer via damages associated with a commercial vehicle event to his own use.” The pending complaint alleges damages of $2,325,953.

According to the Financial Industry Regulatory Authority, Bob Thompson holds 42 years of securities industry experience. Most recently based in Houston, Texas, he was last registered as a broker with The ON Equity Sales Company from 2015 until 2025. His past registrations include United Planners’ Financial Services of America, JW Cole Financial, Walnut Street Securities, Equico Securities, and The Equitable Life Assurance Society of the United States. His credentials include the passage of six securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Registered Representative Examination, or Series 1; and the General Securities Principal Examination, or Series 24. He has been barred from associating with any member firm in all capacities. (Information current as of October 2, 2026.)

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