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Tom Holly: $100K GWG Complaint Against Boca Raton Advisor
B. Riley Wealth Management financial advisor Tom Holly (CRD# 1713313) recently received an investor complaint alleging he unsuitably recommended a GWG L bond. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Boca Raton, Florida.
Mr. Holly’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in July 2022, alleges that as a representative of National Securities Corporation, he recommended an “unsuitable and risky” investment in GWG. The pending complaint alleges damages of $100,000.
An earlier investor complaint, filed in 2002, alleged that as a representative of First Union Securities Financial Network, he recommended unsuitable investments. In 2003 the complaint reached a settlement of $190,000.
A third investor complaint, filed in 1999, alleged that as a representative of JWGenesis Securities, he made misrepresentations of material facts and recommended unsuitable investments. In 2001 the complaint reached a settlement of $6,000.
According to the Financial Industry Regulatory Authority, Tom Holly holds 34 years of securities industry experience. Based in Boca Raton, Florida, he has been a broker with B. Riley Wealth Management since 2022 and an investment advisor with B. Riley Wealth Advisors since 2004. His past registrations include National Securities Corporation (Boca Raton, Florida; 2004-2022), Summit Brokerage Services (Boca Raton, Florida; 2003-2004), Wachovia Securities (Boca Raton, Florida; 2001-2003), and JWGenesis Securities (Boca Raton, Florida; 1994-2001). His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; 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 holds 36 state licenses. (Information current as of September 6, 2022.)
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