Jody Thompson Private Equity Losses?

Alexander Capital Broker Jody Thompson Might Have Sold You Bad Alternative Investments

The Financial Industry Regulatory Authority (“FINRA”) reports troubling allegations of sales practice violations by Alexander Capital securities broker Jody Ethan Thompson (CRD#: 2391190, New York, New York). In fact, Thompson discloses three investment disputes on his FINRA BrokerCheck Report which signals that he unreasonably caused losses to his clients. In addition, FINRA suspended Thompson from March 2020 to August 2020 for violating FINRA rules. Here’s more.

Alexander Capital Client Indicates That Jody Thompson Treated Client Unfairly With Private Equity Transactions

Apparently, in April 2020, a client of Alexander Capital brought a dispute about Jody Thompson. Supposedly, Thompson influenced the client to make changes to the way that a Trust would provide for the client’s children. It appears that the client’s children were detrimentally affected by his actions. For apparent losses sustained on private equity transactions, the client demands $1,100,000 in this ongoing matter.

FINRA Hands Thompson Five Month Suspension For Violating FINRA Rules

Notably, the second most recent disclosure is in regard to Jody Thompson’s bad advice. In February 2020, the financial industry watchdog issued him a suspension for making unsuitable recommendations. Apparently, Thompson told investors to buy into a Fund series that involved convertible notes issued by private technology companies. He also told clients to buy promissory notes and private placement investments in a wireless audio technology company. This all happened from August 2015 to April 2017.
Critically, Jody Thompson did not have any reason to think that it was reasonable or suitable for the clients to invest in these securities. Not only that, but he did not investigate risks and costs. For that reason, he did not really do the type of due diligence that was required of him before providing investment advice. Evidently, Thompson also exercised discretion in client accounts without complying with FINRA rules. It found that he made 40 trades without a client’s written authorization.

Prior Client Complaints Indicate That Jody Thompson Did Not Follow Instructions, Gave Bad Advice

Evidently, Jody Thompson used to work for Merrill Lynch from 2000 to 2015. Notably, FINRA BrokerCheck shows a complaint from 2011 by one of Thompson’s clients at Merrill Lynch. Namely, Thompson allegedly did not follow instructions. This appears to have caused the client losses on mutual funds. Evidently, this matter settled through Merrill Lynch making a $33,000 payment to the client. Finally, a complaint from 2009 hints at Thompson making unsuitable investment recommendations. However, Merrill Lynch denied that client’s complaint.

Losses From Broker Jody Thompson?

Have you experienced losses by investing with broker Jody Thompson? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of securities brokers and financial advisors like Thompson.