Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on Janaury 25, 2017 indicate that Florida-based Ameritas Investment Corporation broker/adviser Thomas Carreras has been named in a pending customer complaint. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Carreras (CRD# 1815164).
Thomas Carreras has spent 28 years in the securities industry and has been registered with Ameritas Investment Corporation in West Palm Beach, Florida since 2003. Previous registrations include Intervest International Equities Corporation in Colorado Springs, Colorado and Woodbury Financial Services in Oakdale, Minnesota. He is a registered broker and investment adviser with nine US states: California, Colorado, Florida, Georgia, Maine, Ohio, Pennsylvania, Rhode Island, and Washington.
According to his BrokerCheck report, Thomas Carreras has received one pending customer complaint.
In September 2016 a customer alleged Thomas Carreras, while employed at Ameritas Investment Corporation, mishandled his third party money managed account, churned investments, breached contract, breached his fiduciary duty, and acted negligently. The customer is seeking $95,000 in damages in the pending complaint.
Churning, or excessive trading, refers to the excessive execution of transactions in a customer account for the primary purpose of generating commissions. In churning cases, a broker does not buy, sell, or trade securities in order to advance a client’s investment goals. Instead, large volumes of transactions are made in order to increase fees and charges. Account churning generally arises in situations where a broker has the control over making investment transactions on a client’s account. Situations where this can occur usually involve discretionary or managed funds, or some margin funds. Brokers who engage in excessive trading may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has complaints regarding Thomas Carreras, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.