Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on November 28, 2016 indicate that California-based Sterne Agee Financial Services broker Thomas Ayer is the subject of a pending customer dispute. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Ayer (CRD# 9243).
Thomas Ayer has spent 54 years in the securities industry and has been registered with Sterne Agee Financial Services in Oakland, California since August 2009. Previous registrations include Emmett A. Larkin Company in Oakland, California (2006-2009); AM Howells & Company in Oakland, California (1973-2006); and Smith Barney Harris Upham (1962-1973). He is a registered broker with four US states: California, Colorado, Oklahoma, and Washington.
According to his BrokerCheck report, Thomas Ayer has received one pending customer complaint.
In June 2016 a customer alleged Thomas Ayer, while employed at Sterne Agee Financial Services, recommended “various” unsuitable investments, including corporate products, money market fund/s, and equity listed stock. The customer is seeking $350,000 in damages in the pending complaint.
According to FINRA rules and federal securities law, investment professionals like Thomas Ayer must abide by a standard called suitability, meaning they must recommend only investments that are suitable for their clients. Brokers must weigh such factors as the customer’s investment goals, experience, age, income, risk tolerance, and others. They may not misrepresent or omit material facts pertaining to an investment, as misrepresentations or omissions might lead a customer to invest unsuitably. Brokers who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has complaints regarding Thomas Ayer, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.