Eric Jose Garcia, of Coral Gables, Florida, a stockbroker registered with Essex National Securities LLC, was the subject of a customer initiated investment related complaint filed on March 21, 2024. The customer requested $105,000.00 in damages based on allegations of failure to conduct due diligence and the unsuitable investment recommendation of an offshore annuity. On September 23, 2024, the matter was resolved through a settlement in which Essex National Securities paid $40,000.00 to the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that on April 17, 2023, another customer initiated investment related dispute was filed, accusing Garcia of misrepresentations and omissions, breach of fiduciary duty, and the provision of unsuitable investment advice. The customer requested $185,000.00 in damages. On July 10, 2024, the dispute was resolved through a settlement in which Essex National Securities paid $160,000.00 to the customer. FINRA Arbitration No. 23-00973.
Additionally, a customer initiated investment related FINRA securities arbitration claim filed on October 14, 2022, involved allegations that Garcia recommended an offshore annuity to invest the majority of the customers’ net worth. Allegedly, the customer sought safety and preservation of capital. The customer requested $100,000.00 in damages. On March 6, 2024, the case was settled with Infinex Investments Inc. paying $50,000.00 to the customer. FINRA Arbitration No. 22-02361.
Garcia has been associated with Infinex Investments Inc. (Osaic Institutions Inc.) since July 1, 2016, as a stockbroker, and since March 13, 2017, as an investment advisor representative. He was previously associated with Essex National Securities from August 1, 2012, to July 1, 2016.
