License for Littleton investment adviser firm and firm president revoked
DENVER — In an order signed on April 5, Colorado Securities Commissioner Gerald Rome revoked the licenses of investment adviser representative Jennifer Weaver Thomason and her company, Thomason Financial Strategies, Inc. The license revocations followed a decision by an Administrative Law Judge after reviewing the findings of staff of the Division of Securities, part of the Department of Regulatory Agencies (DORA), who had attempted to conduct a routine examination of the investment adviser firm.
The revocation of licenses was based on the Administrative Law Judge’s findings that Thomason had made false and misleading filings with the Division where, instead of ceasing her work as the president of the Thomason Financial as provided in filings with the Division, Thomason continued to maintain control of Thomason Financial serve as an investment adviser representative, providing advice to clients and receiving compensation. In addition, Thomason mislead the staff at the Division by telling them her client accounts were at E*Trade, when in truth, they were not, and failed to respond to requests for documents by Division staff.
“Through repeated attempts by the Division to accommodate Ms. Thomason’s needs, she continued to be uncooperative and unresponsive, rendering the staff unable to conduct an examination of her records and business practices,” stated Commissioner Rome. “That is of grave concern for the well-being of her client’s funds and assets, so it was deemed in the best interest of the public to fully revoke both her license as a representative as well as the license of Thomason Financial Strategies.”