Jack Lewis Jones (also known as JJ Jones) of Houston, Texas, a stockbroker currently registered with Triad Advisors, is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.00 in damages because Jones allegedly provided unsuitable investment recommendations to the customer regarding a private placement when Jones was registered with Triad Advisors. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-02885. The private placement was allegedly inconsistent with the customer’s objectives and needs. According to the claim, Triad Advisors failed to perform due diligence prior to the sale of the private placement offering.
FINRA Public Disclosure shows that Jones has been identified in two additional customer initiated investment related disputes concerning his activities. On December 21, 2020, a FINRA securities arbitration claim regarding Jones’s conduct was resolved for $132,500.00 in damages based upon accusations that Jones provided unsuitable advice to the customer concerning a $500,000.00 investment in GPB Holdings. FINRA Arbitration No. 19-01815 (December 21, 2020). According to the claim, GPB suspended distributions following the customer’s purchase, resulting in damages.
Jones is also the subject of a FINRA securities arbitration claim which was settled for $175,000.00 in damages based upon an alleged unsuitable investment strategy at Triad Advisors concerning real estate securities and direct investments, including direct participation program interests and limited partnership interests.
Jones is also the subject of a Securities and Exchange Commission (SEC) Order where he was fined $50,000.00 and ordered to cease and desist from violating federal securities laws. Jones allegedly failed to disclose compensation agreements with a broker-dealer regarding investments in mutual funds. SEC found that as principal of the advisory, Jones signed off on Form ADV filings which omitted the compensation agreements as well as conflicts of interest. SEC found that Jones violated Investment Advisers Act Section 206(2) and aided and abetted the advisory’s violation of Investment Advisers Act Section 206(1) and 206(2).
Jones has been associated with Triad Advisors as a stockbroker since February 21, 2003. He has been registered with Triad Hybrid Solutions LLC since January 14, 2020.