Thomas Lisk Faces Center Street Client Complaints About Unsuitable Recommendations

Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Thomas Samuel Lisk (also known as Tom Lisk) [CRD#: 5010650, Bristol, Virginia]. Lisk has been in the financial industry for 19 years and has been associated with multiple firms throughout his career, including Center Street Securities, Inc., Arete Wealth Advisors, LLC, and currently, Realta Equities, Inc. and Realta Investment Advisors, Inc.

Recent disclosures reveal multiple customer disputes and allegations of unsuitable investments linked to Lisk. These disputes include claims of financial damages, some of which remain pending, while others have resulted in settlements or awards against him.

Ongoing Customer Disputes and Allegations of Unsuitable Advice

Lisk currently faces several pending customer disputes, with claimants alleging unsuitable investment recommendations. These complaints were filed against Center Street Securities, Inc., where Lisk was employed for over 15 years. The disputes include:

• October 29, 2024: A customer alleged unsuitable investments, seeking $100,000 in damages. (FINRA Arbitration No. 24-02338)
• April 8, 2024: Another customer dispute claimed $250,000 in damages due to alleged unsuitable investments. (FINRA Arbitration No. 24-00138)
• March 1, 2024: A separate claim involved $100,001 in damages related to alternative investments. (FINRA Arbitration No. 22-02945)
• February 5, 2024: Additional pending cases involved damages of $185,000 and $220,000 due to similar allegations. (FINRA Arbitration Nos. 22-02365 and 22-02364)

These disputes remain unresolved, with Lisk denying involvement in the transactions and stating he was neither the registered representative nor supervisor responsible.

Settled Customer Disputes and Financial Awards Over Alleged Unsuitable Recommendations by Thomas Lisk

Some disputes against Lisk have already been resolved through settlements or arbitration awards:

• March 1, 2024: Customers alleged unsuitable investments and sought $100,000 in damages. The case was settled for $8,500. (FINRA Arbitration No. 22-02725)
• February 5, 2024: A customer dispute involving $105,000 in damages settled for $5,000. (FINRA Arbitration No. 22-02391)
• March 1, 2024: Another case resulted in a FINRA arbitration panel awarding $528,570.14 in damages to claimants who alleged unsuitable investments. (FINRA Arbitration No. 22-01937)

In response to these cases, Lisk continues to assert that he was not responsible for the disputed transactions and plans to seek expungement of the complaints from his record.

Professional Background and Registration History

Thomas Lisk has been a registered securities broker and investment advisor for nearly two decades. His registration history includes employment at:

• Realta Equities, Inc. – Registered since October 3, 2023.
• Realta Investment Advisors, Inc. – Registered since October 3, 2023.
• Center Street Securities, Inc. – Worked from December 2007 to September 2023.
• Arete Wealth Advisors, LLC – Briefly employed from July 2023 to September 2023.
• Center Street Advisors, Inc. – Served as an investment advisor from May 2014 to July 2023.

Looking for More Information on Thomas Lisk?

If you have concerns regarding investments linked to Thomas Lisk, contact Soreide Law Group online or at (888) 760-6552 to speak with a securities lawyer. The team at Soreide Law Group works on a contingency basis, advances all costs, and assists investors across the country with recovering losses from sales practice misconduct. Lisk and the firms he worked for deny accusations of sales practice violations.