Thomas Scheiman: Independence Capital Advisor Suspended, Fined

Parma, Ohio financial advisor Thomas Scheiman (CRD# 1508288) was recently suspended and fiend in connection with the recommendation of a GWG L Bond. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Independence Capital.

A Letter of Acceptance, Waiver, and Consent (No. 2022074289901) describes FINRA’s disciplinary action against Mr. Scheiman. Signed in November 2025, it alleges that he recommended and sold a $100,000 GWG L Bond to an 83-year-old customer whose “investment objective was income and did not include speculation.” According to the Letter, Mr. Scheiman did not exercise reasonable care and diligence in determining whether the recommendation was in the customer’s best interest. As a result of the recommendation, FINRA found, the customer’s net worth “became 50% concentrated in the L Bond,” while Mr. Scheiman earned a commission of $2,600 in connection with the recommendation. FINRA found that his conduct violated the SEC’s Regulation Best Interest as well as FINRA Rule 2010. He was ordered to pay a fine of $5,000 and suspended for two months.

Mr. Scheiman’s BrokerCheck report discloses one investor complaint. Filed in January 2025, it alleges that he failed to supervise another representative’s recommendations of “a non existing” real estate investment. The pending complaint alleges damages of $100,000.

According to the Financial Industry Regulatory Authority, Thomas Scheiman holds 38 years of securities industry experience. Based in Parma, Ohio, he has been registered as a broker and an investment advisor with Independence Capital since 1990 and 2003, respectively. His past registrations include HD Vest Investment Services and Robert Thomas Securities. His credentials include the passage of 10 securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Securities Trader Exam, or Series 57TO; the Municipal Securities Representative Examination, or Series 52TO; the Operations Professional Exam, or Series 99TO; the General Securities Representative Examination, or Series 7; the Uniform Securities Agent State Law Examination, or Series 63; 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; and the Municipal Securities Principal Examination, or Series 53. He holds 18 state licenses. (Information current as of November 18, 2025.)

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