Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Troy Thomas (Thomas), currently associated with Mcdermott Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Thomas recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint on January 17, 2023.
[REDACTED] allege that the firm failed to conduct adequate due diligence in connection with [REDACTED]’s 2015 investment into four Delaware Statutory Trusts purchased to effect a tax-advantaged 1031 exchange of [REDACTED]’s prior real estate investments. [REDACTED] also allege that these investments were unsuitable. Allegations also include breach of fiduciary duty, negligence, common law fraud, and failure to supervise.