(888) 637 5510
White Securities Law
Free Consultation

Written by • June 24, 2025• 7:52 pm• Broker Investigations

Robert A. Thomas: Broker Investigation Alert

Robert A. Thomas: Broker Investigation Alert featured by top securities fraud attorneys, The White Law Group.
Share at:
ChatGPT Perplexity Grok Google AI

Investor Lawsuit Investigation – Robert A. Thomas

The White Law Group is investigating potential securities claims involving former financial advisor Robert A. Thomas, in light of his recent bar by the Financial Industry Regulatory Authority (FINRA).

According to FINRA’s public records, on March 31, 2025, Thomas was reportedly barred from associating with any FINRA member firm in any capacity. The regulatory action stems from his alleged failure to comply with an arbitration award and his alleged failure to respond to requests for information from FINRA. Prior to the bar, Thomas had been suspended in September 2024 for those same issues and did not take the steps required to lift the suspension.

Broker Misconduct Allegations

Thomas was reportedly voluntarily dismissed by Avantax in October 2022 following internal allegations of “failure to follow firm policies relating to Regulation Best Interest, holding customer funds, use of discretion, and direct trades.”

Thomas has also reportedly been the subject of multiple customer disputes. A complaint filed on September 30, 2021, alleged that he misrepresented the features of a variable annuity, specifically regarding an income rider that he claimed could be activated early in the event of disability. The customers alleged they were misled, and the annuity rider was not activated as promised. The case was settled for $130,635.84. An earlier complaint, filed in 2010, was also settled.

 

Risks of Broker Misconduct and Firm Supervision Failures

FINRA rules require brokerage firms to monitor their registered representatives and ensure that all investment recommendations are suitable and properly disclosed. When a broker fails to comply with these obligations—or when a firm fails to supervise appropriately—it can expose investors to substantial risk. Regulatory bars, employment separations after allegations, and multiple customer complaints may suggest serious underlying misconduct or supervisory lapses.

Recovery Options for Investors

If you invested with Robert A. Thomas and IBN Financial Services and are concerned about potential investment losses, you may be able to recover damages through FINRA arbitration. The White Law Group is currently investigating whether brokerage firms that employed Thomas failed in their supervisory duties.
FINRA arbitration is often the most efficient and cost-effective option for investors to recover losses, especially compared to class action lawsuits, which can take years and often result in smaller individual recoveries. Each case in FINRA arbitration is considered on its own facts and merits, giving wronged investors a greater opportunity to seek full compensation.

FINRA Arbitration vs. Class Action – What’s the Difference?

Most investors don’t realize that disputes with brokerage firms are generally not handled in court. Instead, investors are usually required to pursue claims through FINRA arbitration, a private dispute resolution process governed by the Financial Industry Regulatory Authority. FINRA arbitration is typically faster than a class action lawsuit, often resolving within 12 to 18 months, whereas class actions can take several years.

In arbitration, individual investors have the opportunity to present the specific facts and evidence of their case, as opposed to class actions, which are led by one or a few plaintiffs representing a group. Payouts in arbitration are based on each investor’s actual losses, while class action settlements are often divided among many participants, resulting in smaller individual recoveries. However, arbitration is limited to disputes involving FINRA-member brokerage firms, while class actions may address a broader range of parties and legal issues.

Free Consultation

The White Law Group has handled over 800 FINRA arbitration claims involving broker misconduct and investment fraud. If you are concerned about your investments with Robert A. Thomas, call our offices at 1-888-637-5510 for a free consultation.
For more information, please visit our website at www.whitesecuritieslaw.com

Frequently Asked Questions (FAQs) – Robert A. Thomas

  1. What regulatory actions were taken against Robert A. Thomas ? 
    FINRA barred Thomas from associating with any member firm in 2025, following a prior suspension in 2024.
  2. Can I recover losses if I invested with Robert A. Thomas ?
    Possibly. If you suffered losses as a result of unsuitable investments recommended by Thomas, you may be able to recover damages through a FINRA arbitration claim against the brokerage firm that employed him. Firms can be held liable for failure to supervise their registered representatives.
  3. What is the difference between FINRA arbitration and a class action lawsuit?
    FINRA arbitration is a private dispute resolution process designed specifically for investor claims against brokerage firms or financial advisors. Unlike class actions, each FINRA case is decided on its own merits, which often results in faster resolutions and potentially larger individual recoveries. Class actions, on the other hand, group many investors together and typically involve a longer process with smaller payouts per person.
Last modified: June 25, 2025
← Sebastian Bongiovanni : Broker Investigation featured by top securities fraud attorneys, The White Law Group Previous Story
Moloney Securities Broker John Hebner: Multiple Complaints
→ Student Quarters TEI Equities LLC Investors Lawsuit Investigation. Featured by top securities fraud attorneys, The White Law Group. Next Story
Christopher Jacobi – Ameriprise : Investor Lawsuit Investigation

Comments are closed.