- July 3, 2018
- Dakota Securities
- Broker Discipline
The Wolper Law Firm, P.A. is currently investigating claims against Thomas Beattie, a Financial Advisor at Dakota Securities in Miami, FL. Thomas Beattie first entered the securities industry in 1975 and previously worked at four brokerage firms that have since been barred by FINRA.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Thomas Beattie has two (2) pending customer complaints and a total of four (4) complaints during his career. In addition, he has three prior regulatory infractions. Thomas Beattie’s customer complaint history includes the following:
- April 2018—“Customer alleges loss of investment value over 2 year period.” Alleged damages are $250,000 and the matter remains pending.
- February 2018—“Customer states why so many trades in the account and why such a big drop in value when the market has been going up.” Alleged damages are $251,000 and the matter remains pending.
- March 2013—“Mr. Beattie breached his duty to make suitable recommendations…” The matter was settled.
In addition, in 2000, Thomas Beattie was censured by the Florida Division of Securities and Investor Protection, which consisted of both a fine and ten day suspension. Two additional regulatory infractions are reported, dating back to the 1980s.
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.
If you or someone you know was a customer of Thomas Beattie or Dakota Securities and you experienced investment losses, please contact the Wolper Law Firm, P.A. at 800.931.8452 or by email at email@example.com to discuss your specific situation and the legal options available. The Wolper Law Firm, P.A. represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., is a trial lawyers 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. His industry insight, experience and knowledge gives his clients a competitive advantage.