IMPORTANT NOTICE TO CUSTOMERS OF ENTEGRA BANK AND BROKER JOSEPH BEAM/CAPITAL INVESTMENT GROUP

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

CHESNEE, NC, USA, May 20, 2024 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes is investigating financial advisor Joseph Beam after his recommendations of unsuitable GWG L Bond investments caused numerous families significant investment losses. The law firm urges all current and former customers of Joseph Beam and Beam & Associates Financial Advisors/Capital Investment Group who suffered investment losses in GWG L Bonds, or any other investments, to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the law firm has filed a FINRA arbitration claim (no. 24-01055) against financial advisor Joseph Beam (CRD# 5407778) and Capital Investment Group on the behalf of a group of seven families who are seeking to recover investment losses, in connection with being recommended to invest in unsuitable and illiquid GWG L Bond investments.

According to the lawsuit filed by KlaymanToskes, several of the customers were retired and sought safe, conservative, and fixed income investments that would provide income and safety of principal. As a result of Joseph Beam and Capital Investment Group’s lack of due diligence, failure to act in the best interest of their customers, and misrepresentations of GWG L Bonds as safe, low-risk investments that provided a stable retirement income, the customers sustained substantial damages.

In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and leaving investors without access to their principal. GWG L bondholders are owed over $1.3 billion, however, GWG’s ability to monetize its assets remains highly uncertain and unlikely.

Most recently, 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.

Several of the customers were reportedly introduced to Beam and Capital Investment Group while visiting their local banker, Entegra Bank. Entegra Bank was doing business as Entegra Wealth Management and offered securities through Capital Investment Group. According to FINRA BrokerCheck, Joseph Beam was previously registered with Capital Investment Group from 2013 to June 2023 in Flat Rock, NC.

Current and former customers of Joseph Beam who suffered investment losses at Beam & Associates Financial Advisors and/or 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