Thad Allen: $104K Complaint Against Ex-Edward Jones Advisor

Topeka, Kansas financial advisor Thad Allen (CRD# 5644772) recently received an investor complaint alleging that his conduct resulted in damages exceeding $100,000. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Smith Moore & Company, having previously been registered with Edward Jones.

Mr. Allen’s BrokerCheck report discloses two investor complaints. The most recent, filed in August 2024, alleges that as a representative of Edward Jones & Company, he conspired with his brother “induce the customer into transferring funds to a third party silver broker to purchase silver bars and coins that the customer never received.” The pending complaint alleges damages of $104,000. In a statement included with the disclosure, Mr. Allen denies the allegations.

A second investor complaint, filed in 2022, alleged that as a representative of Edward Jones & Company, he recommended an unsuitable investment. The complaint reached a settlement of $7,802.82.

Smith Moore & Company’s website includes a profile of Mr. Allen that describes his background and experience as a vice president at the firm. “He has had the opportunity to partner with hundreds of people across his 15 years in the industry and has witnessed how change has impacted the financial trajectory of their lives and future generations,” it explains. “He aims to maximize tax efficiencies and allows for maximum flexibility by utilizing a wide-ranging combination of wealth management tools, strategies, and investment vehicles.”

According to the Financial Industry Regulatory Authority, Thad Allen holds 15 years of securities industry experience. Based in Topeka, Kansas, he has been registered as a broker and an investment advisor with Smith Moore & Company since 2022. He was previously registered with Edward Jones in Topeka from 2009 until 2022. His credential include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Alaska, Florida, Georgia, Kansas, Missouri, New Mexico, New York, Oklahoma, Oregon, Texas, Utah, and Virginia. (Information current as of September 22, 2024.)

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