Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on April 4, 2018 indicate that Kansas-based Moloney Securities broker/adviser Thomas Gresham has received numerous resolved or pending customer complaints. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Gresham (CRD# 229641).
Thomas Gresham has spent 47 years in the securities industry and has been registered with Moloney Securities in Overland Park, Kansas since 2012. Previous registrations include UBS Financial Services in Leawood, Kansas (2008-2012); Wachovia Securities in Kansas City, Missouri (1999-2008); First Union Capital Markets in Charlotte, North Carolina (1996-1999); and Rodman & Renshaw in Chicago, Illinois (1988-1996). He has passed six securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on November 5, 1982; Series 5 (Interest Rate Options Examination), which he obtained on December 12, 1981; PC (AMEX Put and Call Exam), which he obtained on July 12, 1977; Series 000 (General Securities Principal Examination), which he obtained on January 14, 1969; Series 1 (Registered Representative Examination), which he obtained on January 14, 1969; and Series 8 (General Securities Sales Supervisor Examination [Options Module & General Module]), which he obtained on June 10, 1997. He is a registered broker and investment adviser with seven US states: Arizona, California, Florida, Kansas, Missouri, South Carolina, and Texas.
According to his BrokerCheck report, he has received twelve customer complaints and two pending customer complaints.
In December 2017 a customer alleged Thomas Gresham, while employed at UBS Financial Services, failed to convert a Roth IRA into an ordinary IRA when it lost value, resulting in an unnecessary tax liability, and recommended unsuitable investments in equities and limited partnerships. The customer is seeking $100,000 in damages in the pending complaint.
In June 2017 a customer alleged Thomas Gresham, while employed at UBS Financial Services, recommended an unsuitable over-concentration strategy and unsuitable limited partnerships in the energy sector. The customer is seeking $500,000 in damages in the pending complaint.
In 2015 a customer alleged Thomas Gresham, while employed at Wells Fargo Advisors, recommended unsuitable investments, violated state securities law, participated in unjust enrichment, and breached his fiduciary duty. The complaint settled for $110,000.
In 2015 a customer alleged he, while employed at Wells Fargo Advisors, recommended unsuitable securities, breached state securities law, and committed unjust enrichment. The complaint settled for $335,000.
In 2009 a customer alleged he, while employed at Wachovia Securities and UBS Financial, recommended unsuitable products and breached his fiduciary duty. The complaint resulted in an award to the customer of $260,000.
If you have lost money investing with Thomas Gresham, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.