Securities Lawyers Blog
The attorneys at Gana Weinstein LLP are reporting on advisor Thomas Gerard Murray (Murray) currently employed by FSC Securities Corporation (FSC Securities) out of Hartsdale, New York. According to a BrokerCheck report, Murray has been subject to at least one customer dispute and one bankruptcy cause during the course of his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), Murray’s customer complaint concerns allegations of unsuitable investments.
In February 2018 a customer alleged that Murray engaged in unsuitable investments of oil & gas programs causing $210,000 in damages. The claim settled for $48,000.
In March 2012 Murray declared bankruptcy. Information on financial matters such as bankruptcies and tax liens has been found to be material for investors to have because an advisor who cannot manage his own finances is a relevant factor for investors to consider. In addition, a broker in financial distress may be influenced to recommend high commission products or strategies.