Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Joseph Dewey Jackson (also known as Joe Jackson, Joey Jackson) [CRD#: 2351290, Fayetteville, North Carolina]. With over 31 years of experience, Jackson has been affiliated with ten different firms, currently operating as a General Securities Principal and Investment Adviser Representative at Capital Investment Group, Inc. and Capital Investment Advisory Services, LLC.
Recent disclosures highlight multiple customer disputes and allegations concerning Jackson’s investment recommendations, particularly GWG Holdings L-Bonds, which were affected by the company’s Chapter 11 bankruptcy filing in April 2022.
On May 21, 2024, a client of Capital Investment Group, Inc. filed a complaint alleging breach of fiduciary duty, negligence, and violations of Regulation Best Interest (Reg BI) related to investments in GWG Holdings L-Bonds. The client sought $100,000 in damages. The matter settled on November 15, 2024, with $45,000 paid to the client, including an individual contribution of $22,500 from Jackson.
Evidently, a client brought a dispute on March 4, 2024, alleging breach of fiduciary duty, negligence, negligent misrepresentation, failure to supervise, and violations of Regulation Best Interest concerning investments in GWG L-Bonds. The FINRA arbitration case (No. 24-00490) lists a damage request of $300,000, and the matter remains unresolved.
Particularly, on August 24, 2023, another client filed a complaint against Capital Investment Group, Inc., alleging breach of fiduciary duty, negligence, negligent misrepresentation, and breach of contract related to investments in GWG L-Bonds. The case, filed under FINRA Arbitration No. 23-02324, resulted in a settlement of $52,500 on November 7, 2024, with Jackson personally contributing $26,250.
Also, a client, both individually and through a trust, filed a $400,000 complaint against Jackson on October 21, 2022, alleging that their $250,000 investment in GWG Holdings, Inc. was unsuitable. Additionally, the client claimed that Jackson failed to notify them of a deadline to exercise a Guaranteed Minimum Income Benefit Rider on an Ohio National Variable Deferred Annuity. The case, under FINRA Arbitration No. 22-02414, settled for $150,000, with Jackson personally contributing $5,000.
Evidently, in response to these disputes, Joseph D. Jackson has maintained that his GWG Holdings investment recommendations were suitable at the time, based on publicly available information. He stated that GWG Holdings provided materially misleading financial statements, which misrepresented the company’s actual financial health.
Looking for more information about Joseph Jackson? If so, reach out to Soreide Law Group online or at (888) 760-6552 to consult with a securities attorney. Soreide Law Group works on a contingency basis, advances all costs, and helps investors across the United States with recovering losses from sales practice misconduct. Jackson and the firms he worked for deny accusations of sales practice violations.
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