Roselle Park, New Jersey — February 13, 2026 — Roselle Park, New Jersey financial advisor Rodger Erik Thomas (CRD# 4010563) is facing a pending FINRA arbitration claim seeking $500,000 in damages over allegations of unsuitable investment recommendations in alternative investments made between December 2016 and August 2018. Financial Industry Regulatory Authority records show that he is currently registered as a broker with Newbridge Securities Corporation and as an investment adviser representative with NFSG Corporation.
Mr. Thomas’s BrokerCheck report discloses that in August 2025, a customer filed a FINRA arbitration claim alleging the recommendation of unsuitable investments in a number of alternative investments between December 2016 and August 2018. The complaint, which names both SCF Securities, Inc. and Newbridge Securities Corporation, involves corporate debt, over-the-counter equity, business development companies, and limited liability companies. The customer is seeking $500,000 in damages. The arbitration, filed under FINRA case number 25-01739 on August 19, 2025, remains pending as of the date of this report.
Mr. Thomas’s record also shows a settled FINRA arbitration from 2023 involving allegations of misrepresentation in connection with an alternative investment. The complaint was filed in April 2023 and settled in June 2023 for $10,000, which Mr. Thomas paid personally. Additionally, his record includes a settled arbitration from October 2021 alleging unsuitable investment recommendations, misrepresentation, and breach of fiduciary duty in connection with a customer’s purchase of GPB Automotive Portfolio, LP. That matter, which sought $47,667 in damages, was settled in January 2022 for $25,000, with the settlement paid entirely by the firm and no individual contribution from Mr. Thomas.
Mr. Thomas’s BrokerCheck report further discloses a settled complaint from July 2010, when he was registered with Ameriprise Financial Services, Inc. The customer alleged that structured products purchased in April and December 2007 were misrepresented. The complaint involved asset-backed debt securities and sought $100,603.32 in damages. The matter was settled in May 2011 for $36,902.35, with no individual contribution from Mr. Thomas.
For reference, Regulation Best Interest establishes that broker-dealers and their associated persons must act in the best interest of retail customers when making investment recommendations. The regulation requires brokers to satisfy a care obligation, which means they must exercise reasonable diligence, care, and skill when making recommendations, and a disclosure obligation regarding material facts relating to the scope and terms of the relationship. When brokers recommend investments that are not suitable for a customer’s investment profile, risk tolerance, or financial circumstances, they may violate this fiduciary standard and expose customers to inappropriate risks. Violations can result in customer arbitration claims, regulatory sanctions, and reputational harm to the broker and their firm.
Additionally, FINRA Rule 2111 addresses the suitability obligation for broker-dealers and their representatives. The rule requires that a broker have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer based on information obtained through reasonable diligence. This includes understanding the customer’s investment profile, including age, financial situation, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, and risk tolerance. Alternative investments, which often involve higher risks, limited liquidity, and complex fee structures, require particular scrutiny under suitability standards to ensure they align with a customer’s investment profile and objectives.
According to the Financial Industry Regulatory Authority, Rodger Erik Thomas holds 27 years of securities industry experience. He is based in Roselle Park, New Jersey, and has been registered with Newbridge Securities Corporation since October 2018 and with NFSG Corporation as an investment adviser representative since October 2018. He was previously registered with Kovack Advisors, Inc. and Kovack Securities Inc. from August 2018 to October 2018, SCF Investment Advisors, Inc. and SCF Securities, Inc. from July 2018 to August 2018, National Securities Corporation from June 2010 to December 2016, Ameriprise Financial Services, Inc. from October 2009 to May 2010, Ameriprise Advisor Services, Inc. from January 2003 to October 2009, and Morgan Stanley DW Inc. from October 1999 to December 2002. Mr. Thomas has passed the Securities Industry Essentials Examination (SIE), the General Securities Representative Examination (Series 7), the Uniform Investment Adviser Law Examination (Series 65), and the Uniform Combined State Law Examination (Series 66). He is currently licensed in 11 states and territories. (Information current as of February 13, 2026.)
Patil Law, P.C. represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses related to unsuitable investment recommendations, alternative investments, concerns about Newbridge Securities advisors, or other forms of investment misconduct, call us at 800-950-6553 or complete our contact form for a free and confidential consultation. Our experienced attorneys, including Chetan Patil and Gabriela Dubrocq, work on a contingency fee basis — you pay nothing unless we recover money for you through FINRA arbitration or other legal proceedings.
The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending or unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.