T. Sloan Thompson: 12 Complaints in 6 Months

Since 2022, former Truist Investment Services broker T. Sloan Thompson has been accused of steering clients—many of them risk-averse retirees—into complex, high-risk products. Below, we unpack some of his disputes, highlight the products most often cited, and explain why Thompson’s advice may have violated key industry rules.

If you or someone you know has been impacted by T. Sloan Thompson or another broker, don’t hesitate to reach out to Meyer Wilson Werning today. Our attorneys are experienced in broker misconduct cases and will help to guide you through the process with a free consultation.

A Closer Look at the Complaints and Settlements for Thompson

Regulatory records show a surge of investor grievances aimed at T. Sloan Thompson (CRD#: 2588490). Several stand out for their size:

• April 16, 2025 — $467,321 settlement: Clients alleged high-risk and unsuitable trading with managed investments.
• January 9, 2025 — $406,786 settlement: The claimant says Thompson made unstable trades and recommendations.
• July 19, 2024 — $495,000 requested: Clients alleged high risk and unsuitable trading.

32 other complaints filed between 2024 and 2025 tell similar stories—unsuitable trades, excessive risk, and opaque fees. In total, his 2025 disputes so far have settled for $1,579,948, underscoring the financial fallout for clients and the potential legal exposure for Thompson and his former firm.

The Products Most Frequently Blamed

Many of the claims revolve around the same small roster of investments. Each carries special risks that can be disastrous for investors who need stability or quick access to cash:

• Non-traded Real Estate Investment Trusts (REITs) – Sold as steady income plays, these REITs are not listed on an exchange, and their redemption programs are limited. Investors often discover they cannot exit without steep discounts.
• High-yield (“junk”) corporate bonds – Higher coupon payments come with a higher chance of default. For clients seeking capital preservation, that trade-off is rarely justified.
• Complex structured products – These securities peg returns to multiple market variables through formula-driven pay-outs. If the underlying metrics move the wrong way, investors can lose principal or see promised “buffers” disappear.

Because these instruments are difficult to understand, FINRA expects brokers to recommend them only after a rigorous suitability analysis—a step Thompson’s clients say did not happen.

Where the Rules Come In

Two FINRA provisions are central to the allegations:

1. Rule 2111 (Suitability). Every recommendation must reflect the customer’s age, experience, goals, and risk tolerance. Ignoring those factors can make even a legal product an unsuitable choice.
2. Rule 2010 (Standards of Commercial Honor). Brokers must deal fairly with clients and uphold high ethical standards in every transaction.

Thompson’s failure to report several complaints in a timely manner led Truist Investment Services to terminate him on March 5, 2024—a move that often signals deeper supervisory concerns within a brokerage firm.

How Meyer Wilson Werning Can Help

If you lost money after following T. Sloan Thompson’s advice, the experienced attorneys at Meyer Wilson Werning are here to help. With more than 20 years in the industry and over $350 million recovered for our clients, our focus on investment fraud and securities litigation has helped many investors recover their losses. Contact us today for a free consultation to discuss your case and learn how we can assist you in protecting your financial

Frequently Asked Questions

How can investors seek compensation for losses?

Investors can seek compensation for losses through FINRA arbitration by documenting their concerns, filing a formal complaint with FINRA, and participating in the arbitration process, which involves presenting evidence and arguments to an arbitrator.

What does FINRA Rule 2111 entail?

FINRA Rule 2111 requires brokers to ensure that their investment recommendations are suitable for clients based on their financial profiles, including experience, goals, and risk tolerance. This was improved upon with the introduction of Regulation Best Interest (Reg-BI).

What steps should investors take if they suspect misconduct?

If investors suspect misconduct, they should document their concerns by keeping records of communications with their broker, gathering relevant account statements, and filing a complaint with FINRA. Additionally, they may consider seeking legal advice to explore options such as filing a lawsuit for damages or pursuing mediation.

How does broker termination affect investor claims?

Broker termination can strengthen investor claims, as it may indicate a pattern of misconduct or regulatory violations, which can be used as evidence in legal proceedings to support claims for compensation and increase the likelihood of favorable outcomes for affected clients.