Thomas Green (CRD #: 600844), a previously registered broker and an investment adviser registered with Spirit Global Investments, Inc., was fired following allegations that he did not inform his clients of the commission and client fees associated with switching their account types. This is according to his IAPD record, accessed on September 18, 2020. There are several other disclosures on Mr. Green’s record that should be of interest to investors.
On August 6, 2020, Thomas Green was fired from Wells Fargo following allegations that he switched clients from fee-based advisory accounts to standard brokerage accounts. Investors typically pay either per transaction or a fixed fee for the account. As an investment adviser, Mr. Green is required to act in his clients’ best financial interests and should inform his clients of the fees and commissions associated with making that kind of change to their accounts.
On August 24, 1995, a client alleged that Mr. Green churned their account. “Churning” describes the practice of executing a high volume of transactions purely for the sake of generating commissions. The client also alleged that Thomas Green misrepresented investments and was involved in fraud. The client sought $185,000 and the dispute settled for $100,000.
There are two other disclosures on Thomas Green’s record in which clients alleged that he misrepresented investments; these disputes collectively resolved for $110,000.
Thomas Green has passed the Series 65 Uniform Investment Adviser Law Examination, Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 3 National Commodity Futures Examination, the Series 1 Registered Representative Examination, the Series 8 General Securities Sales Supervisor Examination (Options Module & General Module), and the Series 4 Registered Options Principal Examination. He is a registered investment adviser in California.
During his 51 years of experience, Mr. Green has worked for the following firms:
- Wells Fargo Clearing Services LLC (CRD #: 19616)
- A.G. Edwards & Sons, Incorporated (CRD #: 4)
- Painewebber Incorporated (CRD #: 8174)
- Thomson McKinnon Securities, Incorporated (CRD #: 829)
- Rauscher Pierce Refsnes, Incorporated (CRD #: 6663)
- J. David Securities, Incorporated (CRD #: 1000)
- Drexel Burnham Lambert Incorporated (CRD #: 7323)
- Bache Halsey Stuart Shields Incorporated (CRD #: 7471)
- Bache Halsey Stuart Inc. (CRD #: 7238)
- Bache & Co Incorporated (CRD #: 7058)
- Bache & Co Incorporated (CRD #: 66)
- Shearson Hammill & Co. Incorporated (CRD #: 766)
If Thomas Green was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation with a securities attorney.