Goodman & Nekvasil P.A, May Recover Investor Losses – Thomas Blair Johnston Permitted to Resign from Cetera Advisor Networks, LLC
From 2013 until Thomas Johnston’s resignation in 2014, Thomas Johnston was licensed with Cetera Advisor Networks, LLC. Thomas Johnston is now licensed with International Assets Advisory, LLC, and was previously licensed with Thrivent Investment Management, Inc. According to FINRA’s records, Thomas Johnston was permitted to resign from Cetera Advisor Networks, LLC on August 15, 2014. Cetera Advisor Networks, LLC reported to FINRA that Thomas Johnston consented to findings that Thomas Johnston participated in unapproved private securities transactions. The findings stated that Thomas Johnston purchased stock in a company and did not seek permission from Thomas Johnston’s firm to make this purchase, and never disclosed this purchase to Thomas Johnston’s firm, in response to a question asking if Thomas Johnston currently owned any passive investments in outside businesses. Thomas Johnston also participated in his firm’s customers’ purchase of stock in the company, without seeking permission from the firm or disclosing such activity to the firm. The company was never an approved product of Thomas Johnston’s firm. The findings also stated that in questionnaires completed in various years, Thomas Johnston failed to disclose the activities described herein in response to questions asking whether all sales of proprietary and non-proprietary securities products and services had been conducted through, or approved by, Thomas Johnston’s firm.
FINRA also reports that prior to Thomas Johnston’s resignation from Cetera Advisor Networks, LLC, Thomas Johnston was terminated by Thrivent Investment Management, Inc. on June 6, 2013. Thomas Johnston’s resignation was related to an internal review for possible violations involving: an unapproved business activity; unapproved outside investments held by Thomas Johnston and his wife; soliciting and/or directing firm customers to purchase securities not offered through the firm; advising on outside 401K assets on two separate occasions; and using personal e-mail to conduct firm business.
Following Thomas Johnston’s discharge by Cetera Advisor Networks, LLC and Thrivent Investment Management, Inc., FINRA investigated Thomas Johnston and brought a disciplinary action against Thomas Johnston. Thomas Johnston consented to a 45-day suspension and a $5,000 monetary fine. Thomas Johnston also consented to findings that Thomas Johnston participated in unapproved private securities transactions. The findings stated that Thomas Johnston purchased stock in a company and did not seek permission from Thomas Johnston’s member firm to make this purchase, and never disclosed this purchase to the firm, in response to a question asking if Thomas Johnston currently owned any passive investments in outside businesses.
If you lost any money on investments with Thomas Johnston, you may be able to recover your losses from Cetera Advisor Networks, LLC, Thrivent Investment Management, Inc., and/or International Assets Advisor, LLC. This is because Cetera Advisor Networks, LLC, Thrivent Investment Management, Inc., and International Assets Advisor, LLC had a duty to supervise Thomas Johnston.
If you lost money on investments with Thomas Johnston and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Cetera Advisor Networks, LLC, Thrivent Investment Management, Inc., and/or International Assets Advisor, LLC concerning Thomas Johnston’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Thomas Johnston and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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