Haselkorn & Thibaut has initiated a focused investigation into Thomas Caine Shultz, a Scottsdale, AZ-based financial advisor currently associated with Realta Equities, Inc. (formerly Coastal Equities). If you are an investor who has worked with Mr. Shultz and are concerned about your investments, it’s important to understand your options and the history of advisor-related complaints.
With over 50 years of combined experience, Haselkorn & Thibaut (investmentfraudlawyers.com) has a 98% success rate and millions recovered for clients nationwide. Our mission is to advocate for investors affected by potential misconduct, offering a free, confidential consultation at 1-888-885-7162—no recovery, no fee.
Who Is Thomas Caine Shultz?
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Thomas Caine Shultz (CRD #5614228) is a registered stockbroker and investment adviser, most recently affiliated with Realta Equities, Inc. in Scottsdale, AZ. His employment background includes:
- Realta Equities, Inc. (formerly Coastal Equities, Inc.): Current
- Titan Securities: 02/2021 to 06/2023
- Coastal Equities, Inc./Coastal Investment Advisors, Inc.: 06/2018 to 01/2021
- ProEquities, Inc.: 06/2014 to 06/2017
- MML Investors Services, LLC: 01/2011 to 06/2011
- UVEST Financial Services Group, Inc.: 08/2009 to 05/2010
In addition to securities-related activities, Mr. Shultz has insurance, real estate, and Medicare-related business affiliations.
Summary of Complaints and Customer Disputes
While publicly available regulatory records from official sources such as FINRA BrokerCheck currently reflect a clean record—with no regulatory actions, suspensions, or criminal disclosures—there are several publicly reported customer-initiated disputes and settlements related to Mr. Shultz’s advisory activities.
| Case Type/Status | Date/Period | Allegations | Damages/Award | Firm Involved |
|---|---|---|---|---|
| Settled Customer Matter | May 25, 2023 | Unsuitable recommendations and inadequate due diligence involving a debt/asset-backed investment (Coastal Equities, Inc.) | $36,000 paid | Coastal Equities, Inc. |
| FINRA Arbitration (Settled) | Sept. 13, 2023 | Unsuitable recommendations; failure to perform due diligence on GWG Holdings alternative investments | $42,000 paid | Coastal Equities, Inc. |
| FINRA Arbitration (Settled) | July 23, 2013 | Unauthorized securities trading (MML Investors Services, 2011) | $5,000 paid | MML Investors Services, LLC |
| FINRA Arbitration (Pending) | Filed Dec. 2025 | Ignoring explicit investor instructions, recommending speculative alternative investments | $103,000 (Damages Sought) | Realta Equities, Inc. |
| FINRA Arbitration (Pending) | Filed Dec. 2025 | Unsuitable alternative investment recommendations | $245,000 (Damages Sought) | Realta Equities, Inc. |
Key Allegations and Concern Areas
- Unsuitable Recommendations: Clients have alleged that investments were recommended that did not match their stated objectives or risk tolerances. This is a violation of FINRA Rule 2111 (Suitability).
- Failure to Conduct Due Diligence: Failure to adequately review the risks and merits of certain alternative investments before recommending them.
- Unauthorized Trading: Executing trades on behalf of clients without proper consent (related to FINRA Rule 3260).
- Failure to Follow Client Instructions: Ignoring or acting contrary to explicit investor directions.
- Speculative and High-Risk Investments: Recommending products not consistent with the client’s goals, often involving complex or illiquid investments such as REITs and certain alternative asset classes.
While Mr. Shultz has not been the subject of regulatory enforcement actions, the pattern of customer complaints and settlements should be a source of diligent review for any investor considering or currently working with him.
Regulatory Record and Public Disclosures
- FINRA BrokerCheck and SEC databases currently do not indicate regulatory fines, suspensions, criminal cases, or official investigations against Mr. Shultz.
- No state (Arizona or otherwise), federal court, or SEC enforcement actions are currently listed relating to Thomas Caine Shultz.
However, the number and value of customer complaints—some involving alternative investments and substantial damage claims—highlight the importance for affected investors to review their portfolios and seek professional second opinions.
Investor Red Flags: Questions You Should Ask
- Were you recommended complex or alternative investments you do not fully understand?
- Did you experience unauthorized trades in your account?
- Were there recommendations inconsistent with your risk tolerance or long-term goals?
- Did your advisor fail to explain the liquidity, fees, or risks of your investments?
- Are there unexplained losses, or has your advisor not responded to concerns?
If you answered “yes” to any of these questions, it may be beneficial to have your accounts independently reviewed for potential recovery opportunities.
How Haselkorn & Thibaut Can Help Investors
Haselkorn & Thibaut offers complimentary consultations to evaluate your case. Our experience spans complex investment product claims, unauthorized trading, and suitability disputes. If losses are determined to stem from misconduct, we can assist you in seeking recovery through FINRA arbitration or mediation processes. There are no fees unless we recover funds for you.
- National reach: Offices and clients across the United States
- Proven success: 98% success rate with millions recovered
- Investor-focused: No recovery, no fee—ever
If you invested with Thomas Caine Shultz (CRD 5614228) of Realta Equities, Inc./Coastal Equities and experienced losses, call Haselkorn & Thibaut now at 1-888-885-7162 for your free and confidential consultation. Don’t wait—your rights and recovery opportunities may depend on timely action.
