Broker Investigation: Thomas Williams

Thomas Yancey Williams (CRD#: 1372002) is an actively registered securities broker. Since June of 2018, Mr. Williams has been employed at IFS Securities in Atlanta, Georgia. Previously, this broker was also associated with International Assets Advisors, LLC and First Allied Securities.

On October 22nd, 2018, an investor filed a complaint against Thomas Y. Williams alleging losses related to unsuitable investment recommendations, unsuitable investment strategies, and excessive trading (churning).

Customer Complaint: IFS Securities Broker Thomas Williams

Under FINRA Rule 2111, registered representatives must have a reasonable basis to execute trades and make investment recommendations. All investment advice should be suitable for the risk profile and long-term objectives of each individual customer. In the complaint filed against Mr. Williams, the investor is seeking $50,000 in financial compensation. Currently, FINRA lists this case as ‘pending’.

Notably, in 2010, Thomas Williams was permitted to resign from First Allied Securities after another investor filed a FINRA arbitration claim seeking financial compensation for losses related to unsuitable investment recommendations. Mr. Williams stated that he denied the allegations, but that he agreed to resign from First Allied Securities after the brokerage firm made the decision to settle the dispute brought by the investor. That claim was eventually settled for $125,000.

Get Help With Your Securities Fraud Claim

At Sonn Law Group, we have the skills and experience to handle unsuitable investment claims. If you lost money due to unsuitable investment recommendations, please contact our law firm today for a free, no obligation case evaluation.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

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