Joseph Robert Eades Jr., a stockbroker based in Easley, South Carolina, and registered with Capital Investment Group Inc., is facing a pending customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim alleging unsuitable investment recommendations, misrepresentations and omissions of material fact, breach of contract, breach of fiduciary duty, and negligence in connection with the sale of GWG Holdings Class L-Bonds. The claim, filed on July 18, 2024 (FINRA Arbitration No. 24-01554), sought $114,000 in damages. This arbitration is still pending, and no resolution has been made.
In addition to the pending claim, Eades Jr. has a history of customer disputes. FINRA Public Disclosure shows that on January 18, 2022, a customer initiated investment related FINRA securities arbitration claim was filed against him alleging unsuitable investment recommendations in DPPs and LPS. The claim sought $5,000 in damages and was settled on March 8, 2023, for the full amount of $5,000. FINRA Arbitration No. 21-03130.
Another customer initiated investment related complaint filed on February 5, 2020, alleged that the customer wanted to liquidate some investments for cash flow needs, but the investments did not offer liquidity on demand. The securities broker dealer denied this claim on February 10, 2020, stating that the liquidity terms were fully disclosed at the time of purchase. The alleged damages in this claim were $5,000, but no monetary settlement was reached.
Eades Jr. has been registered with Capital Investment Group Inc. since January 30, 2004, and with Capital Investment Advisory Services LLC since January 2, 2013.
