J.R. Thacker: $340K Complaint Against Thacker & Associates Advisor

Bristol, Virginia financial advisor J.R. Thacker (CRD# 2754773) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is a broker with Center Street Securities, doing business as Thacker and Associates. He is an investment advisor with Arete Wealth Management.

Mr. Thacker’s BrokerCheck report discloses one investor complaint. Filed in July 2023, it alleges that as a representative of Arete Wealth Management, he recommended unsuitable alternative investments. The pending complaint alleges damages of $340,000.

In a statement included with the complaint’s disclosure, Mr. Thacker “strongly” disputed the allegations. “The Claimant is a wealthy and sophisticated investor with considerable investment experience in alternative investments,” he wrote. “Prior to making the investments-at-issue, the Claimant received written disclosures that included detailed information about the risks. The Claimant knowingly accepted those risks, and Mr. Thacker provided her with accurate information about each product.” Adding that he “conducted due diligence” on the investments, he concluded by describing the complaint as meritless.

According to the Financial Industry Regulatory Authority, J.R. Thacker holds 27 years of securities industry experience. Based in Bristol, Virginia and Nashville, Tennessee, he has been registered as a broker with Center Street Securities since 2007 and as an investment advisor with Arete Wealth Advisors since 2021, doing business as Arete Wealth Advisors. His past registrations include Kalos Capital (Bristol, Virginia; 2005-2007), Dortch Securities and Investments (Little Rock, Arkansas; 1999-2005), Signator Investors (Boston, Massachusetts; 1996-1999), and John Hancock Mutual Life Insurance Company (Boston, Massachusetts; 1996-1997). His credentials include the passage of ten securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Municipal Securities Principal Examination, or Series 53; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Investment Banking Registered Representative Examination, or Series 79TO; the Municipal Securities Representative Examination, or Series 52TO; the Operations Professional Examination, or Series 99TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 46 state licenses. (Information current as of September 4, 2023.)

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