Soreide Law Group has filed a FINRA arbitration on behalf of our client (Claimant) against:
CETERA INVESTMENT SERVICES, LLC, and their registered representative,
THOMAS DAVID BRUNT (THOMAS D BRUNT) Respondents.
The Claimant is retired and living in Tennessee. The Claimant and his wife were looking for conservative investments to sustain them through retirement. He had approximately $100,000 in his IRA account and was looking to invest in a conservative investment to generate income for retirement. The Claimant was referred to CETERA INVESTMENT SERVICES, and their registered representative, THOMAS D BRUNT in October of 2020. The lawsuit alleges the Claimant told BRUNT to put his money into a “safe bond.” According to the lawsuit, THOMAS D BRUNT sold the Claimant annuities and a JP Morgan Chase Financial Note linked to ARKK, which is the ARK Innovation ETF that plummeted over 60% year to date. The ARK Innovation Exchange-Traded Fund (ARKK), is a complex, structured note offering, that has underperformed the broad market and has lost over 66% of its value. The lawsuit alleges the Claimant had no idea that the “bond” sold to him could be more volatile than the stock market. According to the lawsuit, the Claimant was completely reliant upon the Respondents for all investment advice. The Claimant has no other means of replacing his retirement savings.
According to the lawsuit, CETERA INVESTMENT SERVICES and their representative, THOMAS D BRUNT’s actions have caused the Claimant damages of approximately $60,000.00. The lawsuit is alleging: negligence, breach of fiduciary duty, and negligent supervision.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, THOMAS D BRUNT, has been in the securities industry for 5 years and has been listed with 3 firms. He is registered both as a broker and an investment advisor. He has one disclosure, a “Customer Dispute,” listed on his FINRA CRD report.
Brunt has been listed with the following firm since 2018:
CETERA INVESTMENT SERVICES LLC
640 NORTH GERMANTOWN PKWY
CORDOVA, TN 38018
If you have also experienced losses due to the actions or recommendations of CETERA INVESTMENT SERVICES and/or registered representative, THOMAS D BRUNT, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA on a contingency basis, no fee to you if no recovery.
