Indianapolis financial advisor Steve Haskell (CRD# 6864948) recently received an investor complaint alleging his advice resulted in six-figure damages. Financial...Read More
John Thomas: Ft. Lauderdale Global Wealth Advisor Has $100K Complaint
A pending investor complaint against Fort Lauderdale financial advisor John Thomas (CRD# 4679845) alleges that he recommended unsuitable investments. Financial Industry Regulatory Authority records show that he is a broker with Madison Avenue Securities and an investment advisor with Global Wealth Management Investment Advisory. He was formerly registered with GF Investment Services.
Mr. Thomas’s BrokerCheck report discloses two investor complaints. The most recent, filed in February 2022, alleges that as a representative of GF Investment Services, he recommended unsuitable alternative investments and fixed annuities. The pending complaint alleges damages of $100,000.
An earlier investor complaint, filed in 2020, alleged that as a representative of Global Wealth Management Investment Advisory, he unsuitably recommended the customer hold two real estate investment trusts rather than sell them. In 2021 the complaint reached a settlement of $14,999.
In a statement on the 2020 complaint’s disclosure, Mr. Thomas defended himself against the allegations. “Representative contends that the REITs in question were illiquid and could not have been sold,” he wrote, adding: “Any recommendations were suitable. This case was settled to avoid the cost of defense.”
According to the Financial Industry Regulatory Authority, John Thomas holds 19 years of securities industry experience. Based in Fort Lauderdale, Florida, he has been a broker with Madison Avenue Securities and an investment advisor with Global Wealth Management Investment Advisory since 2017. His past registrations include Global Financial Private Capital, GF Investment Services, Raymond James Financial Services, Costa Financial Group, and Costa Financial Securities. His credentials include the passage of eight securities industry qualifying exams: the Municipal Securities Principal Examination, or Series 53; the Financial and Operations Principal Examination, or Series 27; the General Securities Principal Examination, or Series 24; the Registered Options Principal Examination, or Series 4; 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 Florida, Maryland, Michigan, New Jersey, New York, North Carolina, Pennsylvania, and Wisconsin. (Information current as of August 24, 2022.)
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