There are options for clients of Purshe Kaplan Sterling Investments broker Joseph Eschleman (CRD# 3237843), who is accused of unsuitable investment recommendations. He has been registered with Purshe Kaplan Sterling Investments in Sacramento, California, since 2017, and Towerpoint Wealth, LLC in Sacramento, California, since 2017. He was registered with Wells Fargo Clearing Services, LLC in Sacramento, California, from 2003 to 2017, when he was terminated regarding, “Former employer alleges that the individual input trades and instructed team member to process required minimum retirement distribution indicating he had spoken to the client. Former employer further alleges that individual revised notes to reflect client previously verbally authorized individual to utilize trading discretion and issue an RMD. FA, acting in the best interest of his client and with prior verbal authorization from the client, input trades when same day authorization was required. No client complaints.”
In August 2018, FINRA sanctioned him to pay a $5,000 civil and administrative penalty and suspended him for 10 days after he “consented to the sanctions and to the entry of findings that he exercised discretion in customers’ accounts without first obtaining either written authority from his customers or his member firm’s acceptance of the accounts as discretionary. The findings stated that FINRA began its investigation when the firm filed a Form U5 terminating Eschleman’s registration.” According to his BrokerCheck profile, “FINRA’s investigation found that Eschleman exercised discretion without written authority when he sold a security in the individual retirement account (IRA) of a customer in order to fund a required minimum distribution. Eschleman again exercised discretion without written authority when he sold securities from a trust account maintained by this customer and his wife. However, these customers gave Eschleman verbal authority to exercise discretion in the IRA account and in the trust account.”
Joseph Eschleman Customer Complaints
He has been the subject of three customer complaints between 2003 and 2025, one of which was closed without action, according to his CRD report. The most recent complaint was regarding:
September 2025. “Client alleges the recommendation to effect a 1031 exchange into two DSTs: Campus Walk DST and 4th & J DST were unsuitable.” The customer is seeking $1,175,140.23 in damages, and the case is currently pending. The complaint was regarding real estate securities, and it took place while he was registered with Purshe Kaplan Sterling Investments.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Purshe Kaplan Sterling Investments may be liable for investment or other losses suffered by Joseph Eschleman’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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