gavel on money

James A. Franklin (also known as Jim Franklin) of Houston Texas a stockbroker formerly registered with Investors Capital Corp. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought more than $5,000.00 in compensatory damages founded on accusations that his investment recommendations were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03265 (Nov. 16, 2020). According to the claim, the customer received bad advice on real estate security products.

This is not the first time that Franklin has been the subject of an investor dispute. FINRA Public Disclosure reveals that on April 11, 2017, a customer filed an investment related complaint involving Franklin’s conduct in which they sought $50,000.00 in damages based upon allegations that misrepresentations had been made to them concerning how long their assets would remain illiquid. The complaint alleges that the customer’s assets have been held in real estate securities since March 2015.

Franklin’s registration with Investors Capital Corp. has been terminated as of October 3, 2016. He was associated with Cetera Advisors between October 3, 2016 and March 17, 2017. He was also registered with 1st Global Capital Corp. between March 15, 2017 and February 11, 2019. Since February 8, 2019, Franklin has been registered with Cetera Advisor Networks LLC as a stockbroker and investment adviser representative.