FINRA BrokerCheck shows important information in regard to securities broker Thomas Wayne Chandler (CRD#: 1082136, Fort Lauderdale, Florida). Evidently, Chandler worked for securities firms Merrill Lynch, LPL Financial (2014 to 2018) and Kovack Securities (2019 to 2020). Notably, both Kovack Securities and LPL Financial disaffiliated with Chandler for alleged misconduct involving client accounts. In addition, four Merrill Lynch investors disputed his sales practices. Here’s more on the disclosures.
Evidently, securities firm Kovack Securities (Fort Lauderdale, Florida) allowed Thomas Chandler to resign in April 2020 amid allegations of his company policy violation. Supposedly, Chandler did not conform himself to the securities firm’s policies and procedures relating to account updates.
Also, LPL Financial (Fresno, California) disaffiliated with Chandler in January 2018 because he allegedly made an unauthorized transaction. It appears that the securities broker executed a transaction for a client’s account so that they could meet their margin call. Purportedly, Chandler did not first speak with a person who LPL authorized on the account.
Notably, four Merrill Lynch investors brought disputes about Thomas Chandler, and those disputes together allege unauthorized trading, unsuitable trading and misrepresentation.
Specifically, in one of those disputes, the client alleged that Chandler invested their assets in a way that did not work for their investment strategy. In another dispute, a client alleged unsuitable investments. Moreover, a third Merrill Lynch dispute alleges unauthorized trading by the securities broker. And in the fourth one, the dispute concerns purported misrepresentations.
Evidently, the products mentioned in these investor disputes about Thomas Chandler concerned mutual funds, listed equities, stocks, and a variable life insurance policy. BrokerCheck shows that Merrill Lynch either denied these disputes, or clients did not pursue the complaints further.
Did you experience losses because of broker Thomas Chandler? If so, contact Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about possibly recovering your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered significant compensation for investors who have incurred losses due to their financial advisors and securities brokers. Please note that Chandler denies all allegations of his sales practice violations.
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