- June 14, 2024
- Realta Equities
Jack R. Thacker Jr. (CRD#: 2754773) is a registered broker and investment advisor with Realta Equities, Inc. in Bristol, VA.
Broker’s Background
He entered the securities industry in 1996 and previously worked with John Hancock Mutual Life Insurance Company; Signator Investors, Inc.; Dortch Securities & Investments, Inc.; Kalos Capital, Inc.; Thacker & Associates Inc.; Arete Wealth Management, LLC; and Center Street Advisors, Inc.
Current and Past Allegations of Conduct Leading to Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in April 2024, Jack R. Thacker became the subject of a customer dispute alleging, “unsuitable investments.”
In addition, Jack R. Thacker has been the subject of 17 other customer disputes:
• April 8, 2024—“ The claimant alleges unsuitable investments.” The damage amount requested $250,000 and the customer dispute is still pending.
• March 25, 2024—“ Clients allege unsuitable investment recommendations in 2012 – 2019.” The damage amount requested is $221,904 and the customer dispute is still pending.
• March 1, 2024—“ The claimant alleges unsuitable investments.” The customer dispute is still pending.
• March 1, 2024—“ The claimants allege unsuitable investments.” The damage amount requested is $141,000 and the customer dispute is still pending.”
• March 1, 2024—“ The claimants allege unsuitable investments.” The damage amount requested is $100,001 and the customer dispute is still pending.
• March 1, 2024— “The claimants allege unsuitable investments.” The damage amount requested $100,000 and the customer dispute is still pending.
• March 1, 2024— “The claimants allege unsuitable investments.” The damage amount requested is $200,000 and the customer dispute is still pending.
• February 28, 2024—“ The claimants allege unsuitable investments and respondents did not conduct a reasonable due diligence on investments.” The customer dispute is still pending.
• February 6, 2024—“The claimant alleges unsuitable investments.” The damage amount requested is $100,001 and the customer dispute is still pending.
• February 5, 2024—“ The claimants allege unsuitable investments.” The damage amount requested is $140,000 and the customer dispute is still pending.
• February 5, 2024—“ The claimants allege unsuitable investments.” The damage amount requested is $185,000 and the customer dispute is still pending.
• February 5, 2024—“ The claimants allege unsuitable investments.” The damage amount requested is $220,000 and the customer dispute is still pending.
• February 5, 2024—“ The claimants allege unsuitable investments.” The damage amount requested is $105,000 and the customer dispute is still pending.
• February 5, 2024—“The claimant alleges unsuitable investments.” The damage amount requested is $110,000 and the customer dispute is still pending.
• February 5, 2024—“ The claimants allege unsuitable investments.” The damage amount requested is $500,000 and the customer dispute is still pending.
• July 27, 2023—“ Client alleges registered representative recommended unsuitable investments.” The damage amount requested is $340,000 and the customer dispute is still pending.
• November 2011—“ 12/11 CLIENT LETTER SAID SHE WAS CONCERNED ABOUT THE ILIQUIDTY OF HER REIT INVESTMENTS PURCHASED 2007. SHE REQUESTED COPIES OF ORIGINAL DOCUMENTS AND THAT FIRM NOT CONTACT HER BY PHONE; ONLY MAIL. DOCUMENTS WERE SENT TO HER SOON AFTER WITH A COVER LETTER AND REDEMPTION FORMS. SHE DID NOT MAKE ANY FURTHER REQUESTS TO FIRM. DIED 5/2012.” The customer dispute was closed-no action.
For a copy of Jack R. Thacker’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
Reasonable basis suitability requires that a recommended investment or investment strategy be suitable or appropriate for at least some investors. Reasonable basis suitability requires an advisor to conduct adequate due diligence so that he or she can determine the risks and rewards of the investment or investment strategy.
Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation.
Customer-specific suitability requires that a member or associated person have a reasonable basis to believe that the recommendation is suitable for a particular customer based on that customer’s investment profile. Among the criteria that a financial advisor must evaluate to satisfy his or her customer-specific suitability obligations include the investor’s age, tax status, time horizon, liquidity needs, and risk tolerance; a client’s other investments, financial situation and needs, investment objectives, and any other information disclosed by the customer should also be considered.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.