The Frankowski Firm is investigating potential claims against FINRA-expelled broker Thomas Alan Meier, of Miami, Florida, following Mr. Meier’s permanent bar from the securities industry based on findings that Meier effected unauthorized trades in customer accounts, generating large commissions for himself while losing his clients’ money.
According to FINRA’s Acceptance, Waiver, and Consent findings against Meier, Meier engaged in approximately 1,290 unauthorized transactions in eight accounts belonging to six customers. The unauthorized transactions included purchases and sales of equities, gaining Meier approximately $265,000 in commissions. Meier did not have any conversations with the customers in advance of the trades or otherwise obtain their authorization. To date, Morgan Stanley has paid over $1 million to recompense five of the customers in connection with complaints about Meier.
In addition to the regulatory action and permanent bar, Meier’s FINRA BrokerCheck Report reveals that he has incurred fourteen customer complaints just since 2016, including allegations of unsuitable trading, negligence, breach of fiduciary duty, misrepresentations and overconcentration.
If you or someone you know lost money as a client of Thomas Alan Meier or Morgan Stanley due to unsuitable, misrepresented, or unauthorized transactions, please call the Frankowski Firm at 888.741.7503 or fill out this contact form.