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Gene Thomas: $322K Complaint Against MML Advisor
A new investor complaint against Oklahoma City financial advisor Gene Thomas (CRD# 2065557) alleges that his conduct resulted in damages of more than $300,000. Financial Industry Regulatory Authority records indicate that he is a broker and an investment advisor with MML Investors Services, having previously been registered with MSI Financial Services.
Mr. Thomas’s BrokerCheck report discloses two investor complaints. The most recent, filed in December 2022, alleges that as a representative of MML Investors Services, he negligently mismanaged the claimant’s stock portfolio when he “liquidated appreciated stock from the customer’s account instead of first transferring it to one of the customer’s companies as had been discussed,” resulting in an otherwise avoidable tax liability. The pending complaint alleges damages of $322,500.
A second investor complaint, filed in 2016, alleged that as a representative of MetLife Securities, he made misrepresentations of material facts regarding a variable annuity investment purchased in March 2014. The complaint alleged unspecified damages and was denied by the firm.
According to the Financial Industry Regulatory Authority, Gene Thomas holds 32 years of securities industry experience. Based in Oklahoma City, Oklahoma, he has been a broker and an investment advisor with MML Investors Services since 2017. His past registrations include MSI Financial Services (Oklahoma City, Oklahoma; 1991-2017) and Metropolitan Life Insurance Company (Oklahoma City, Oklahoma; 1991-2007). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Colorado, Minnesota, Oklahoma, and Texas. (Information current as of January 14, 2023.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.