Joseph Beam Named in Three Suitability Disputes

Joseph Beam (CRD #: 5407778), a broker registered with Capital Investment Group, is the subject of allegations concerning suitability, according to his BrokerCheck record, accessed on April 6, 2023. If you have questions about his conduct as a broker, keep reading.

Investor Disputes

On February 9, 2023, an investor alleged that Joseph Beam breached a written contract with regard to a purchase in GWG Holdings. The client seeks $125,000 in this pending dispute.

Several investors filed a dispute on July 19, 2022, naming Joseph Beam in relation to allegations that they were recommended and sold an unsuitable investment. Joseph Beam is not named as a respondent but is referenced in the claim. They seek $80,000 in this pending dispute.

A dispute filed on May 31, 2022, names Joseph Beam in allegations involving misrepresentation and the unsuitability of an investment. The client seeks $160,000 in this pending dispute.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to their client’s profiles. Investors’ profiles contain information about their investment goals, tax status, and age.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

FINRA Rule 2020

Misrepresenting an investment violates FINRA Rule 2020, which bans the use of deceptive, manipulative, and otherwise unethical tactics to influence the purchase or sale of securities.

Background Information

Joseph Beam has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Joseph Beam is a registered broker in Massachusetts, North Carolina, and South Carolina.

He previously worked for SunTrust Investment Services (CRD#:17499).

Kurta Law Can Help

If you worked with Joseph Beam and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.