Thomas North Allegedly Over-Concentrates A Customer’s Portfolio In Unsuitable Investments

The law firm of Oakes & Fosher is presently investigating the possible misconduct of securities broker Thomas North. According to his publicly available FINRA BrokerCheck report, Thomas North has been the subject of multiple customer disputes over the course of his career.

Thomas North is a California based securities broker. He has worked in the securities industry for thirty-seven years. During his career, he has been registered with three different securities firms.

His Registrations

• Morgan Stanley (1980-2005)


• Merrill Lynch (2005-2012)


• Wells Fargo Clearing Services (2012-Present)

The Allegations

• In October 2013, a customer alleged that Thomas North made unsuitable securities recommendations and made material misrepresentations.


• In June 2018, a customer alleged that Thomas North over-concentrated their portfolio in unsuitable securities.

What Does This Mean?

Securities brokers have an obligation to their customers to always act in their best financial interests. The main part of this is only recommending securities that are suitable for them. Securities brokers, like Thomas North, can accomplish this by looking at factors like their customer's investment objectives, financial situation, and risk tolerance. Securities brokers are not allowed to excuse themselves by claiming they were unaware of a security's unsuitability.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Thomas North, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.