THOMAS A VIGIL Suspended and Fined by FINRA

THOMAS A VIGIL, according to FINRA’s BrokerCheck, has been in the securities industry for 23 years and was listed with 9 firms.  FINRA has suspended THOMAS A VIGIL from acting as a broker for 12 months with a starting date of 5/5/2025 and an ending date of 5/4/2026.  Vigil was also fined $10,000.00 and ordered to pay restitution of $25,436.00 by FINRA.

According to FINRA’s BrokerCheck report it states in part that without admitting or denying the findings, THOMAS A VIGIL consented to the sanctions and to the entry of findings that he allegedly recommended variable annuity exchanges to member firm customers without having a reasonable basis to believe the recommendations were suitable.

FINRA’s findings stated that THOMAS A VIGIL allegedly recommended the customers exchange their existing variable annuity for an L-share variable annuity with a four-year surrender period that was paired with a Guaranteed Minimum Withdrawal Benefit rider. According to FINRA, Vigil did not conduct or document any assessment of the suitability of his recommendation and allegedly failed to conduct a comparative analysis of the benefits, fees, and costs of the surrendered and replacement variable annuities.

FINRA alleges that in all instances, THOMAS A VIGIL incorrectly stated in his documentation of the exchanges that the replacement variable annuity was lower in fees when, in fact, the replacement annuity allegedly caused customers to increase their base expenses. As a result of these recommendations, Vigil's customers collectively paid $25,436.00 in additional costs.

According to FINRA, THOMAS A VIGIL allegedly made negligent misrepresentations and omissions of material fact about the variable annuities’ costs on transaction documents. FINRA found that Vigil allegedly forged a customer's variable annuity application by photocopying her signatures from her first annuity application onto her second application. The customer approved of the purchase; however, she was not aware of, and did not consent to, Vigil photocopying her signatures. 

According to FINRA’s BrokerCheck, THOMAS A VIGIL has 9 disclosures on his FINRA CRD report, 4 are “Customer Complaints,” 2 are “Employment Separation after Allegations” (INFINITY FINANCIAL SERVICES in 2024, and SIGNATOR INVESTORS, INC. in 2014) and 2 “Regulatory” disclosures involving fines and suspensions.

THOMAS A VIGIL was registered with Infinity Financial Services in Saunderstown, RI from 10/21/2014 - 11/12/2024.

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