James Patrick Shawver (also known as Jim Shawver), of Boynton Beach, Florida, a stockbroker registered with Independent Financial Group LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.01 in damages based upon allegations that Shawver made unsuitable recommendations of non-traded real estate investment trusts and Business Development Companies (“BDCs”) when Shawver was associated with Independent Financial Group LLC. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-01200 (May 31, 2022). The claim alleges that the recommendations were not consistent with the customer’s objectives and risk tolerance.
FINRA Public Disclosure shows that Shawver is referenced in three other customer initiated investment related disputes concerning Shawver’s conduct while associated with securities broker dealers. On September 29, 2003, a customer initiated investment related NASD securities arbitration claim involving Shawver’s conduct was settled for $12,000.00 in damages based upon allegations that Shawver made unsuitable recommendations of variable annuities when Shawver was associated with Merrill Lynch Pierce Fenner Smith Inc. NASD Arbitration No. 02-05448. The claim alleges that the annuities performed poorly.
On September 20, 2005, another customer filed an investment related complaint involving Shawver’s conduct in which the customer requested $13,150.00 in damages based upon allegations that Shawver failed to follow instructions during the time that Shawver was associated with Merrill Lynch Pierce Fenner Smith Inc.
Shawver is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $10,000.00 in damages based upon alleged unsuitable recommendations of direct investments when Shawver was associated with Independent Financial Group LLC. FINRA Arbitration No. 20-01666 (December 3, 2021).
Shawver’s stockbroker and investment adviser representative registrations with Independent Financial Group LLC were terminated on September 11, 2020. Shawver has been registered with Peak Brokerage Services LLC as a stockbroker since September 11, 2020, and registered with Blackridge Asset Management LLC since October 19, 2020.
