June 2019 UPDATE–Dallas, TX
We are currently pursuing FINRA arbitration claims on behalf of more than 20 individuals who were were customers of Dexter Thomas Financial Services. These individuals are seeking recovery of damages from National Planning Corporation, LPL Finanical and United Planners, the brokerage firms who employed Mr. Thomas.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
The claims allege damages to their accounts for unsuitable investment recommendations, including annuity investments, and churning of accounts.
Dexter Thomas “Loans”
We are investigating claims on behalf of an individual for a fraudulent loan Mr. Thomas made from the client.
According to FINRA records, Dexter Thomas, was last registered with United Planners Financial Services of America and operated Dexter Thomas Financial Services in Dallas. His FINRA record discloses 13 pending customer disputes that seek damages in the millions.
Thomas was employed by National Planning Corp. from 9/2006-11/2017and from 11/2017-8/2018 he was employed by United Planners. These prior employers can be held accountable for losses you may have suffered.
NATIONAL PLANNING CORP. SANCTIONED OVER ANNUITY SALES
On July 24, 2018, NPC was hit with very significant sanctions by FINRA related to the sale of annuities. FINRA found that NPC received over $152 million from the sale of variable annuities, including $56 million from the sale of L-share variable annuities which were sold to customers without investigating the suitability of the product for the customer.
FINRA has fined NPC $650,000. In addition, NPC has agreed to disgorgement of up to $6 million to affected customers.
National Planning Corp. has also been known as Jackson National Financial Services and NPC of America.
DID YOU MAKE A CLAIM THAT WAS DENIED ?
If you made a claim for losses with one of the brokerage firms where Dexter Thomas was employed and that claim was denied, call for a no obligation consultation to learn how we may be able to recover damages on your behalf.
If you have questions about an investment account handled by Dexter Thomas , questions about annuities you may have been sold, a loan to Mr. Thomas or other financial matters involving Thomas, contact us for a no charge consultation to discuss your options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900