Columbus, Ohio financial advisor Tom Bates (CRD# 1037294) allegedly gave misleading investment advice, according to a recent investor complaint. Financial...Read More
Thomas Ren: BDC Complaint Against Bull & Bear Financial Advisor
Roaring River, North Carolina financial advisor Thomas Ren (CRD# 2729198) recently received an investor complaint alleging six-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Crown Capital Securities, doing business as Bull & Bear Financial Outfitters.
Mr. Ren’s BrokerCheck report discloses one recent investor complaint. Filed in June 2022, it alleges that as a representative of Crown Capital Securities, he performed insufficient due diligence and recommended unsuitable investments in a non-traded business development company (BDC) and other alternative investments. The pending complaint alleges damages of $100,000.
Investors should be aware that non-traded or private business development companies, like other non-traded funds, are often highly illiquid and risky products. In 2016 the Financial Industry Regulatory Authority warned investors to take care when weighing investments in non-traded BDCs, explaining that they expose investors “to high commissions and fees, illiquidity risks and uncertainty regarding the time-period BDCs will hold funds before they are invested.” Brokers and investment advisors who recommend unsuitable non-traded BDCs may be held liable for damages in the event of losses and/or subject to disciplinary action by FINRA, the Securities and Exchange Commission, and/or state securities regulators.
According to the Financial Industry Regulatory Authority, Thomas Ren holds 26 years of securities industry experience. Based in Roaring River, North Carolina, he has been a broker and an investment advisor with Crown Capital Securities since 2016, doing business as Bull & Bear Financial Outfitters. His past registrations include Securities America (Littleton, Colorado; 2014-2015), Sunset Financial Services (Littleton, Colorado; 2007-2014), American Portfolios Financial Services (2007), United Securities Alliance (Littleton, Colorado; 2003-2007), FFP Securities (Chesterfield, Missouri; 1998-2003), and Washington Square Securities (Windsor, Connecticut; 1996-1998). His credentials include the passage of six securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Direct Participation Programs Representative Examination, or Series 22; 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 Arizona, Colorado, Florida, Nebraska, New Mexico, and North Carolina. (Information current as of December 9, 2022.)
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.