Investment Losses with Joseph Beam/Capital Investment Group? Contact KlaymanToskes Immediately

NEW YORK, NY, USA, August 16, 2024 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes continues investigating Capital Investment Group and financial advisor Joseph Beam, after their recommendations of GWG L Bond investments caused an investor to suffer over $100,000 in damages. The law firm urges customers who suffered investment losses with Joseph Beam to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 24-01565) against Capital Investment Group on the behalf of a retired investor who is seeking to recover damages in excess of $100,000, in connection with being recommended to invest in unsuitable and illiquid GWG L Bonds by his financial advisor, Joseph Beam (CRD# 5407778).

According to the claim filed by KlaymanToskes, the customer explained to his financial advisor Joseph Beam that he was looking for a safe, conservative, fixed income investment that would provide income and safety of principal. As the customer was retired, he did not want to take any significant risk with his savings.

The customer relied on the information and representations made by Beam through Capital Investment Group, entrusting the firm and its advisor with making suitable investment recommendations that were in his best interest. However, the GWG L Bonds recommended were illiquid and unlisted, and the significant risks associated with the investments were not disclosed to the customer.

In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and leaving investors without access to their principal. On January 29, 2024, financials were filed with the bankruptcy court by the GWG Wind Down Trustee which confirmed that L bondholders will only receive a small fraction of their investments from the bankruptcy.

Accordingly, it is in bondholders’ best legal interest to maximize their recovery of losses by filing FINRA arbitration claims against the brokerage firms and financial advisors who sold these unsuitable products, such as Capital Investment Group.

Current and former customers of Joseph Beam and/or any other financial advisor who suffered losses at Capital Investment Group are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Contact

Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com

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