Jack Lewis Jones Jr. (also known as JJ Jones), of Houston, Texas, a stockbroker associated with Triad Advisors LLC, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $30,000.00 in damages. The claim alleged that Jones made unsuitable recommendations, failed to sufficiently disclose the details of direct investments, and that Triad Advisors LLC did not conduct adequate due diligence on an offering when Jones was associated with Triad Advisors LLC. FINRA Arbitration No. 21-02885 (March 7, 2023).
This is not the first time that Jones has been referenced in a customer initiated investment related dispute regarding his conduct in the securities industry. FINRA Public Disclosure shows that Jones was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $132,500.00 in damages based upon alleged unsuitable advice regarding GPB Holdings. The customers alleged that, in 2014, they invested $500,000.00 in GPB Holdings during the time that Jones was associated with Triad Advisors LLC. FINRA Arbitration No. 19-01815 (December 21, 2020).
On May 18, 2021, another customer initiated investment related FINRA securities arbitration claim concerning Jones’ conduct was settled for $175,000.00 in damages. The customers alleged that an unsuitable investment strategy concerning direct investments and real estate securities was recommended to them during the time that Jones was associated with Triad Advisors LLC. FINRA Arbitration No. 20-00723.
On November 7, 2016, Jones was fined $50,000.00 by United States Securities and Exchange Commission (SEC) based on allegations that he failed to disclose compensation received through agreements with a registered securities broker-dealer. Order No. 3-16047. Supposedly, he did not adequately inform investment advisory customers about an agreement that created incentives to favor certain mutual funds over others and to prefer the securities broker-dealer’s platform when providing investment advice. Jones also allegedly submitted Form ADV filings that lacked disclosure or provided inadequate information regarding conflicts of interest. As a result, SEC alleged that he violated Investment Advisers Act of 1940. Jones was ordered by SEC to cease and desist from violating federal securities laws.
Jones has been associated with Triad Advisors LLC as a stockbroker since February 21, 2003, and associated with Triad Hybrid Solutions LLC as an investment adviser representative since January 14, 2020.
