Thomas Justice: $1mm Complaint Against Emerson Equity Advisor

San Mateo, California financial advisor Thomas Justice (CRD# 2786145) has received multiple investor complaints alleging that his conduct resulted in damages. Financial Industry Regulatory Authority records show that he is registered with a broker and an investment advisor with Emerson Equity, having previously been registered with Conover Securities.

Mr. Justice’s BrokerCheck report discloses two investor complaints. The most recent, filed in May 2025, alleges that as a representative of Emerson Equity, he recommended an unsuitable real estate investment and breached his fiduciary duty. The pending complaint alleges damages of at least $1 million.

An earlier investor complaint, filed in 2018, alleged that as a representative of Conover Securities Corporation, he misrepresented and recommended unsuitable non-traded REIT investments that were over-concentrated in the customer’s account. The complaint reached a settlement of $80,000.

For reference, “over-concentration,” also known as lack of diversification, is described by FINRA’s investor resources as akin to putting too many eggs in one basket. To avoid the risks of over-concentration, FINRA recommends investors diversify across and within major asset classes, regularly rebalance their portfolios, closely examine the underlying stocks or bonds in the mutual funds and exchange-traded funds in their portfolios, and keep vigilant track of their investments’ liquidity.

According to the Financial Industry Regulatory Authority, Thomas Justice holds 29 years of securities industry experience. Based in San Mateo, California, he has been registered with a broker and an investment advisor with Emerson Equity since 2020. His registration history includes Conover Securities Corporation, Conover Capital Management, Pacific West Securities, Private Consulting Group, and NFP Securities. His credentials include the passage of six securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; 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; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He is licensed in Utah and Washington. (Information current as of September 21, 2025.)

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