Our firm is investigating Merrill Lynch, Pierce, Fenner & Smith Incorporated financial advisor Thomas Brusca (CRD# 7178493) of Westlake Village, California for potential investment-related misconduct.
Financial Advisor’s Career History
Thomas Brusca is currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated as both a broker and an investment adviser representative, with broker registration dating to March 17, 2022 and investment adviser registration dating to April 29, 2022. BrokerCheck lists no prior securities-firm registrations before Merrill Lynch. His recent employment history includes Merrill Lynch, Pierce, Fenner & Smith Incorporated as a Financial Solutions Advisor from November 2021 through June 2024 and as a Financial Advisor from June 2024 to the present, along with Bank of America roles beginning in December 2020 and earlier employment with U.S. Bank.
Thomas Brusca Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck reflects one customer dispute disclosure for Brusca. According to the disclosure, a customer alleged that Brusca failed to follow instructions between October 14, 2025 and October 19, 2025 in connection with exchange-traded funds. The written complaint was received on November 19, 2025 and was marked settled on November 21, 2025. Although alleged damages were listed as $0.00 and described as not specified, the matter settled for $7,961.17, and Brusca’s individual contribution was listed as $0.00. The disclosure further states that the matter was not an arbitration, civil action, or CFTC reparation proceeding.
Disclosure Summary
- Action: Customer dispute alleging failure to follow client instructions from October 14, 2025 to October 19, 2025 involving exchange-traded funds.
Disposition: Settled on November 21, 2025. - Action: Written customer complaint received on November 19, 2025.
Disposition: Settlement amount of $7,961.17; alleged damages listed as unspecified and shown as $0.00. - Action: Broker statement asserts that three visible accounts were liquidated promptly, and that a fourth account at another branch was later identified and then liquidated using as-of pricing.
Disposition: Individual contribution amount listed as $0.00.
Investors reviewing this disclosure may want to examine the timing of the customer’s liquidation instructions, the ETF positions involved, the account records, and any communications showing what accounts were visible and what steps were taken after the instruction was given. To obtain a copy of Thomas Brusca’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
Although BrokerCheck reflects a settled customer complaint rather than a FINRA finding that Brusca violated a rule, FINRA Rule 2010 is often examined when a financial advisor is accused of not carrying out client instructions in a fair, accurate, and professionally diligent manner. Rule 2010 requires associated persons to observe high standards of commercial honor and just and equitable principles of trade. In a matter involving an alleged failure to timely liquidate all accounts after instructions were given, the rule can become relevant because the central question is whether the advisor’s conduct met FINRA’s broad standard of fair dealing and ethical business conduct.
FINRA Rule 2090 can also become relevant in disputes involving account instructions and account visibility. That rule requires firms and associated persons to use reasonable diligence to know the essential facts concerning each customer and the authority of each person acting on the customer’s behalf. Where a complaint turns on whether all customer accounts were identified and acted upon when liquidation instructions were given, Rule 2090 may be analyzed in relation to whether the advisor had the information needed to properly service the client relationship and carry out the client’s directions.
FINRA Rule 3110, the supervision rule, may also matter where a complaint suggests that account-location, branch-visibility, or instruction-handling problems affected execution of a client request. Rule 3110 requires member firms to maintain supervisory systems reasonably designed to achieve compliance with securities laws and FINRA rules. In a situation where the advisor’s explanation points to a fourth account at another branch that was initially outside his visibility, investor counsel may examine whether supervisory procedures, account access systems, and escalation practices were reasonably designed to prevent that kind of breakdown.
The Law Offices of Robert Wayne Pearce, P.A. is a nationally recognized securities law firm representing investors in FINRA arbitration and securities fraud cases on a contingency fee basis. Robert Wayne Pearce, the founding attorney, has more than 45 years of experience recovering millions for victims of broker misconduct and investment fraud. He previously defended major brokerage firms and now uses that insight to protect investors nationwide. To discuss your case directly with Mr. Pearce, call (800) 732-2889 or email pearce@rwpearce.com for a free consultation.