- August 11, 2022
- Arkadios Capital
Mark A. Thompson (CRD#: 4632270) is a dually registered Broker and Investment Advisor at Arkadios Capital in Atlanta, GA.
He entered the securities industry in 2003 and previously worked for ACG Wealth, Inc.; Triad Advisors, Inc.; LPL Financial Corporation; Lincoln Financial Advisors Corporation; and The Lincoln National Life Insurance Company.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in March 2022, a complaint was filed against Mark A. Thompson. The FINRA sanction states, “Claimant alleges negligence, overconcentration, and unsuitable recommendations with regard to alternative investments.” The customer dispute is pending and damages of $1M are requested.
In addition, Mark A. Thompson has been the subject of two customer complaints, including one that remains pending, including the following:
- July 2020 — “Unsuitable products 2012 through 2017.” The customer dispute was settled for $138,000.
- May 2020 — “Misrepresentation private placement in February 2017.” The customer dispute is pending and damages of $50,000 are requested.
For a copy of Mark A. Thompson’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
Alternative Investments is a broad term that describes securities that are not offered for sale through a public exchange. These can include a wide variety of offerings, including Conservation Easements, Non-Traded REITs, Business Development Companies, Oil and Gas Limited Partnerships and private equity. Non-traded alternative investments are issued under Regulation D under the Securities Act of 1933. Regulation D provides exemptions from the more rigorous Securities and Exchange Commission (SEC) registration requirements and allows companies to offer and sell securities without extensive disclosures. The absence of standard disclosure requirements often creates conflicts of interest.
The Securities Exchange Commission, federal courts, and FINRA have all found that brokerage firms have a duty to conduct a reasonable investigation concerning the private placements issuer’s representations concerning the security. A brokerage’s firm’s due diligence obligation also stems from suitability obligations requiring the broker to have reasonable grounds to believe that a recommendation to purchase, sell or exchange a security is suitable for the customer.
Financial advisors also 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.
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 firstname.lastname@example.org.