THOMAS MICHAEL FROSS is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 910 OLD CAMP ROAD STE 90, THE VILLAGES, FL, 32162.
THOMAS MICHAEL FROSS has worked at LPL FINANCIAL LLC since February 14, 2018
THOMAS MICHAEL FROSS has 4 Disclosure Event(s).
Date: January 06, 2016 Category: Customer Dispute Allegations: Unsuitability; misrepresentations and omissions; violation of NASD/FINRA conduct rules; breach of contract; negligence; breach of fiduciary duty; and vicarious liability. Damage Amount Requested: $24,000.00 Broker Comment: AWARD WAS ISSUED AGAINST THE FIRM SII ONLY FOR $19,634.34. DENIED AGAINST THE REP, WHO WAS ONLY A SUBJECT OF ARBITRATION.
Date: June 30, 2015 Category: Customer Dispute Allegations: CLIENT ALLEGES SHE WAS NOT INFORMED OF TAX CONSEQUENCES WHEN SHE LIQUIDATED HER IRA TO PURCHASE A HOME. Damage Amount Requested: $17,243.00 Broker Comment: THIS CLAIM WAS DENIED BECAUSE OF EVIDENCE SHOWING THAT THE CLIENT WAS WELL AWARE OF THE 60 DAY ROLLOVER RULES OF AN IRA WHEN SHE INSTRUCTED HER ADVISOR TO LIQUIDATE THE ACCOUNT. THE CLIENT MISSED THIS WINDOW DUE TO DELAYS IN CLOSING THE SALE OF HER HOME AND APPEARS TO HAVE WANTED MR. FROSS TO PAY FOR HER MISTAKE.
Date: May 27, 2009 Category: Customer Dispute Allegations: CLIENT STATES CONTRACT WAS PURCHASED FOR THE INCOME BENEFIT RIDER. THE CLIENT'S NEW B/D INFORMED HIM THE CONTRACT DOES NOT HAVE AN INCOME BENEFIT RIDER. Damage Amount Requested: $5,000.00 Broker Comment: AN INVESTIGATION BY THE BROKER DEALER FOUND THAT THAT IT WAS NOT THE CLIENT'S INTENTION TO HAVE AN INCOME BENEFIT ON THIS CONTRACT. CLIENT STATED, AND SIGNED DOCUMENTS AT THE TIME OF THE ORIGINAL INVESTMENT INDICATING THIS INVESTMENT WAS FOR DEATH BENEFIT PURPOSES ONLY. ALSO THEY STATED IT WAS NOT THEIR INTENTION TO TAKE CURRENT OR FUTURE INCOME FROM THIS ACCOUNT. A DEATH BENEFIT RIDER WAS PUT ON THIS ACCOUNT. THE CASE WAS CLOSED.FIRM WAS NOTIFED IN WRITING ON 06/23/2009 FROM SECURITIES AMERICA THAT THE ABOVE COMPLAINT HAS BEEN DENIED.
Date: October 21, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGES HE WAS MISLEAD REGARDING VA GUARANTEED CONTRACT AND HOW THE LIVING WITHDRAWL BENEFIT DEFFERRED FROM A FIXED RATE OF RETURN. Damage Amount Requested: $22,229.67 Broker Comment: THE INSURANCE COMPANY DENIED THIS CLAIM BASED ON THEIR DECISION THAT FULL DISCLOSURE HAD BEEN PROVIDED BY MR. FROSS AT THE TIME OF THE ORIGINAL INVESTMENT. THE COMPLAINANT HAS REMAINED A CLIENT AND STATED THAT HE FULLY UNDERSTANDS AND IS HAPPY WITH THE LIVING WITHDRAWAL BENEFIT GUARANTEES.
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for THOMAS MICHAEL FROSS, click here.
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.
How to choose a broker or investment adviser. Learn More