James A. Franklin, of Dallas, Texas, a stockbroker formerly registered with Investors Capital Corp., is the subject of a customer initiated investment related complaint on March 15, 2017, in which the customer requested $50,000.00 in damages founded upon accusations that in March of 2015, Franklin placed real estate security transactions in the customer’s account that were misrepresented regarding the liquidity of the investments.
Apparently, the customer filed a related complaint against Cetera Advisors LLC, alleging that a deferred compensation plan and individual retirement account had been set up by Franklin in 2015, where the customer sought investments in mutual funds. The customer claimed that Franklin placed the customer’s assets in real estate investment trusts instead, and claimed that investments were safer and would be liquid within eighteen months, which was not the case.
Franklin was terminated from Investors Capital Corp. on October 3, 2016; worked at Cetera Advisors LLC from October 3, 2016, to March 17, 2017; and has been registered with 1st Global Capital Corp. since March 15, 2017.
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