A tip to the Securities Helpline for Seniors run by the Financial Industry Regulatory Authority (FINRA) led to an investigation into the activities of World Choice Securities financial advisor Thomas Ward Stratton (CRD#: 1646899). Stratton’s refusal to provide testimony in the investigation led to him being barred from the Securities industry by FINRA on the 12th of August.
The investigation was regarding Stratton having allegedly misused customer funds in promissory note sales related to a life insurance policy of a third party. He also, allegedly, made misrepresentations in the case.
Stratton, without admittance or denial regarding the findings, apparently only provided an incomplete response to FINRA. He is believed to have later acknowledged the receipt of the FINRA requests for information and reiterated his intention of not providing the remaining pieces of information asked for.
Investors have multiple resources available to them if they suspect foul play with their financial advisor. Unfortunately, elder abuse financial is increasing in preys on victims trust. Investors suspecting anything should contact an investment fraud lawyer who will review their situation. This is often done for free and could help limit future losses.
Table of Contents
How to recover financial losses
Inappropriate conduct of brokers that leads to financial losses for clients may also be the responsibility of the broker-dealer they are associated with. The firm is responsible for monitoring the activities of its representatives and ensuring that they are adequately supervised. Failure to do so makes them liable for their activities and ensuing client losses.
Several cases of potential securities claims involving Thomas Stratton are being investigated by Haselkorn & Thibaut, a national investment fraud, securities arbitration, investor protection, and investment regulation law firm with offices in Florida, Texas, New York, Arizona, and North Carolina, on behalf of their clients.
If you have had to deal with Stratton, and are concerned you might be financially affected by his inappropriate conduct, the securities attorneys at Haselkorn & Thibaut may be able to guide you to a recovery path, which, in many cases, is through an arbitration process that is made available by FINRA for such issues. The law firm can be contacted on 1-800-856-3352.
The above is based on information available in the public domain.
Thomas Stratton Past Record
According to data maintained by FINRA, he has been associated with the following brokerage firms:
- From 13th August 2002 to 2nd January 2004 with Financial Independence Systems, Inc. (CRD#:46425), Dania Beach, Fl.
- From 5th January 2004 to 12th August 2021 with World Choice Securities, Inc. (CRD#:30933), Melbourne, Fl.
There is a customer complaint on his record that appears to have been settled in 2016. Charges in the case were “unsuitable management of accounts/over-concentration/Margin/Breach of Fiduciary Duty.”