THOMAS A DAVIS Former Broker with WELLS FARGO ADVISORS of HILTON HEAD ISLAND, SC Barred by FINRA

THOMAS A DAVIS CRD#: 6121035, a former registered representative with Wells Fargo Advisors in Hilton Head Island, SC, and a former registered banker with Wells Fargo Bank was named a respondent in a FINRA complaint alleging that he converted approximately $2,226 from an affiliated bank of his member firm without authorization from approximately January through May 19, 2016. The complaint alleges that Davis issued unwarranted cash credits to five bank clients, on behalf of the bank, and withdrew the amounts from the bank clients' accounts without their knowledge or authorization. The complaint also alleges that Davis failed to appear and provide testimony to FINRA on two occasions.
On FINRA’s website they state that there was a default decision rendered October 9, 2018 wherein THOMAS A DAVIS is barred from association with any FINRA member in all capacities. The sanction is based on findings that Davis converted $2,226 from his employer, an affiliated bank of his member firm. The findings stated that, on 20 occasions, allegedly Davis intentionally issued $2,226 in unwarranted cash credits on the bank's behalf to five bank clients. Davis then allegedly withdrew and spent the credited funds without the clients' or the bank's knowledge or authorization. Davis allegedly withdrew the funds by using debit cards he issued in the clients' names but kept for himself. The findings also stated that Davis failed to appear and provide on-the-record testimony to FINRA. If no further action is taken, the decision will become final on November 6, 2018.
Wells Fargo Advisors discharged THOMAS A DAVIS in 2016 following the allegations that, according to FINRA’s BrokerCheck, “Wells Fargo Bank, N.A. ("WFNA"), discharged registered banker for taking money that did not belong to him. In carrying out his actions, the banker opened bank accounts for existing clients, he credited the accounts with customer satisfaction credits that were available to him as manager of the branch, he set up and pinned debit cards related to the accounts, and he withdrew the funds through ATM transactions. The activity was unrelated to the securities business of Wells Fargo Advisors, LLC ("WFA")."
According to FINRA’s BrokerCheck, THOMAS A DAVIS was in the securities industry for 3 years and had listed with the following firm:
11/05/2012 - 07/21/2016  WELLS FARGO ADVISORS, LLC - HILTON HEAD ISLAND, SC 
Contact Soreide Law Group at 888-760-6552 if you’ve experienced losses due to the actions or recommendations of THOMAS A DAVIS, formerly of WELLS FARGO ADVISORS, LLC of HILTON HEAD ISLAND, SC, and speak to a securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration.
Soreide Law Group (888-760-6552) represents our clients nationwide before FINRA and we operate on a contingency fee basis, no fee if no recovery.