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Joseph Eschleman Sanctioned by FINRA Over Discretion Allegations

Joseph EschlemanPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on September 13, 2018 indicate that California-based Purshe Kaplan Sterling broker/adviser Joseph Eschleman has been sanctioned by FINRA in connection to alleged rule violations and issued a suspension from acting as a broker. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Eschleman (CRD# 3237843).

Joseph Eschleman has spent 18 years in the securities industry and has been registered with Purshe Kaplan Sterling Investments in Sacramento, California since August 2017. Previous registrations include Wells Fargo Clearing Services in Sacramento, California (2003-2017) and Prudential Securities in New York, New York (1999-2003). He is a registered broker and investment adviser with two US states: California and Pennsylvania.

According to his BrokerCheck report, he was recently sanctioned by FINRA and has received one customer complaint.

In August 2018 FINRA sanctioned him in connection to allegations he exercised discretionary authority in client accounts with obtaining prior written authorization from the customers or firm approval of the accounts as discretionary. According to FINRA’s findings, Mr. Eschleman exercised unauthorized discretion in the sale of a security in a client’s IRA in order to fund a required minimum distribution. FINRA alleged that he again exercised discretion without written authorization in the sale of securities from a trust account maintained by that customer and that customer’s spouse, though those customers had provided verbal authorization to exercise discretion in the IRA and trust accounts. Mr. Eschleman was issued a $5,000 fine and a ten day suspension set to begin on September 17, 2018 and lift on September 28, 2018.

In 2014 a customer alleged Joseph Eschleman, while employed at Wells Fargo Advisors, misrepresented material facts. The complaint settled for more than $11,400.

If you or someone you know has complaints regarding Joseph Eschleman, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.