Paul Murans: $500K Complaint Against Thurston Springer Advisor

Indianapolis financial advisor Paul Murans (CRD# 3266607) recommended an unsuitable senior life settlement portfolio, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Thurston Springer, having previously been registered with UBS Financial Services.

Mr. Murans’ BrokerCheck report discloses six investor complaints. The most recent, filed in in March 2024,  alleges that as a representative of UBS Financial Services, he recommended an unsuitable senior life settlement portfolio that was not an approved investment. The pending complaint alleges damages of at least $500,000.

An earlier complaint, filed in 2022, alleged that as a representative of UBS Financial Services, he misrepresented a life settlement insurance product as a safe and short-term opportunity. In 2023 the complaint reached a settlement of $90,000.

A third disclosure concerns his firing from UBS Financial Services. Filed in 2017, it states that the firm terminated him in connection with allegations that he facilitated “client purchases of life-settlement products not listed on firm platform,” failed to escalate a customer complaint, and responded to the complaint without approval.

Thurston Springer’s website includes a page describing the firm’s history and services. “We earn trust through relationship building as well as learning where you stand financially,” it states. “We don’t offer one-size-fits-all advice. Learning about your family situation, your current financial situation, and your plan for the future begins the process.”

According to the Financial Industry Regulatory Authority, Paul Murans holds 24 years of securities industry experience. Based in Indianapolis, Indiana, he has been registered with as a broker and an investment advisor with Thurston Springer Financial and Thurston Springer Advisors since 2017 and 2020, respectively. His past registrations include UBS Financial Services, Merrill Lynch, UBS Painewebber, and Midwest Discount Brokers. (Information current as of June 22, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.