Broker Complaints: JHS Capital Advisors (CRD# 112097)

The securities and investment fraud law firm of Fitapelli Kurta is currently investigating claims against JHS Capital Advisors and its brokers.

JHS Capital Advisors is a broker-dealer firm registered with both the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). JHS has been registered with FINRA since 2001. Their main office is located in Tampa, Florida, however they have firm operations in all fifty states.

Customer complaints against JHS Capital are governed by FINRA. As a FINRA member firm, JHS Capital is required to arbitrate all customer related complaints before FINRA. We exclusively handle FINRA complaints on behalf of investors and are investigating customer complaints against JHS Capital Advisors. We are interested in speaking to investors who may have lost money as a result of JHS Capital Advisors’ misconduct.

JHS has a history of complaints with FINRA. Notably, in 2010 JHS Advisors terminated its relationship with a clearing firm and transferred accounts from that clearing firm to another clearing firm. JHS then sent several letter to a number of clients, informing them that if they did not transfer their accounts to the new clearing house within 30 days, JHS would liquidate the securities in their accounts, send the account proceeds to them and close their accounts. After 30 days, JHS carried through with their threat and liquidated the accounts of several of their customers. The problem? JHS Capital Advisors did not have authority to do this. In total, between January 2010 and January 2011 JHS Capital liquidated 33 accounts and made approximately $1.1 million in the unauthorized sales of these customer’s assets. In 2013, FINRA fined JHS Advisors $75,000 for this grave misconduct.

In August 2011, one of JHS Advisors’ subsidiaries, Pointe Capital, Inc. was fined $300,000 by FINRA for charging their customers “handling fees” in addition to commission on equity and security trades. According to the AWC, these fees were excessive and unrelated to any handling related expenses incurred by the firm. These “fees” reached as high as $95.00 per trade in some cases.

In November 2010, JHS Advisors was fined $75,000 for liquidating client’s accounts to cover fees without authorization from their customers.

If you or someone you know has suffered financial loss as a result of JHS Capital Advisors, one of its brokers, or one of its’ subsidiaries please contact the experienced attorneys at Fitapelli Kurta. Our law firm prosecutes cases on behalf of investors nationwide on a contingency fee basis. Time is of the essence in these cases so do not delay. Call now for your free consultation.