Rodger Thomas: $500K Complaint Against Ex-SCF Securities Advisor

Boca Raton, Florida financial advisor Rodger Thomas (CRD# 4010563) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Newbridge, doing business as Shield Capital Advisory.

Mr. Thomas’s BrokerCheck report discloses four investor complaints. The most recent, filed in August 2025, alleges that as a representative of SCF Securities, he recommended unsuitable alternative investments between December 2016 and August 2018. The pending complaint alleges damages of $500,000.

An earlier investor complaint, filed in 2023, alleges that as a representative of Newbridge Securities Corporation, he misrepresented material facts relating to an alternative investment. The complaint reached a settlement of $10,000.

A third investor complaint, filed in 2021, alleged that as an SCF Securities representative, he breached his fiduciary duty, recommended an unsuitable investment in GPB Automotive, and misrepresented material facts. In 2022 the complaint reached a settlement of $25,000.

A fourth investor complaint, filed in 2010, alleged that as an Ameriprise Financial Services representative, he “represented”—perhaps meaning “misrepresented”—investments in structured products. In 2011 the complaint reached a settlement of $36,902.35.

According to the Financial Industry Regulatory Authority, Rodger Thomas holds 25 years of securities industry experience. Based in Boca Raton, Florida, he has been registered as a broker and an investment advisor with Newbridge since 2018, doing business as Shield Capital Advisory. His past registrations include Kovack Securities, SCF Securities, National Securities Corporation, Ameriprise Financial Services, Ameriprise Advisor Services, and Morgan Stanley. His credentials include the passage of four securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the Uniform Investment Adviser Law Examination, or Series 65; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He is licensed in Florida, Illinois, Indiana, Louisiana, Michigan, Montana, New Jersey, New York, North Carolina, Pennsylvania, and South Carolina. (Information current as of September 8, 2025.)

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