Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers, has opened a formal investigation into James Michael Poindexter, a financial advisor and stockbroker currently registered with McDermott Investment Services, LLC and Independent Wealth Network, Inc. in Prescott, Arizona. If you, or someone you know, sustained losses while investing with Mr. Poindexter, we urge you to contact us for a free, confidential consultation at 1-888-885-7162 or visit our website to discuss the possibility of recovering your funds.
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Overview: James Michael Poindexter, Prescott, AZ
| Advisor Name | James Michael Poindexter |
| CRD Number | 1867899 |
| Current Broker-Dealers | McDermott Investment Services, LLC Independent Wealth Network, Inc. |
| Location | Prescott, Arizona |
| Industry Experience | Since the late 1980s |
| Licenses & Designations | Series 7, 24, 63, CFP, ChFC |
| Other Affiliations | Poindexter Financial Group, LLC JMP Legacy Properties, LLC |
Our Investigation: What Investors Need to Know
Currently, our attorneys are investigating multiple areas of potential misconduct tied to James Michael Poindexter, particularly regarding the recommendation and sale of Delaware Statutory Trusts (DSTs) for 1031 exchange purposes. These real estate investments, while marketed as advantageous tax-deferred vehicles, can involve complexities and risks that are not always suitable for every investor’s needs and goals.
Ongoing Customer Dispute: As of February 2026, a customer dispute (FINRA Case No. 26-00319) alleges that Mr. Poindexter recommended DSTs between 2021 and 2023 through McDermott Investment Services, LLC, resulting in significant investment losses. The claimants are currently seeking $624,000 in damages and have alleged the following:
- Unsuitable investment recommendations
- Failure to perform adequate due diligence
- Breach of fiduciary duty
- Negligence
- Misrepresentation and omission of material facts
- Failure to supervise by the broker-dealer
Red Flags: Potential Misconduct and Allegations
Although James Michael Poindexter does not currently have regulatory sanctions, customer complaints, bankruptcies, or terminations reported on his FINRA BrokerCheck profile, the pending customer arbitration underscores several key issues and red flags:
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Unsuitability
- Recommending illiquid or complex DST investments without proper alignment to the customer’s financial situation and unique objectives.
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Breach of Fiduciary Duty
- Advisors must always put their clients’ interests first under SEC Regulation Best Interest (Reg BI). Failing to do so exposes investors to unnecessary risks and losses.
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Negligence
- Failing to perform the level of care and diligence that a prudent advisor should meet under FINRA and SEC rules.
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Misrepresentation and Omission
- Withholding, downplaying, or incorrectly portraying material facts about DST risks and expected returns.
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Failure to Supervise
- Broker-dealer firms, such as McDermott Investment Services, are required to establish systems to prevent and detect broker misconduct. Failure here can create damaging consequences for investors.
Understanding DSTs and 1031 Exchanges
A Delaware Statutory Trust (DST) is a legally recognized investment vehicle allowing for fractional property ownership. DSTs are frequently utilized in 1031 exchanges as part of IRS-recognized strategies for deferring capital gains taxes. However, the complexity, risks, and illiquidity of DSTs mean they are suitable only for certain investors under the right circumstances. If these risks were not fully explained, or your investment objectives were not properly considered, you may have grounds to seek a recovery of your losses.
Your Legal Options: Recovery and Next Steps
If you experienced losses through James Michael Poindexter at McDermott Investment Services, LLC or Independent Wealth Network, Inc., our attorneys can help you evaluate your options. We pursue financial advisors and firms through the FINRA arbitration process, a streamlined, cost-effective dispute resolution forum for investors seeking restitution from broker misconduct.
- No recovery, no fee: If we do not win your case, you owe us nothing.
- Free case evaluation: Find out your rights and options guided by attorneys who spent decades defending large financial firms and now fight for you.
- National reach and expertise: We represent investors nationwide as aggressive advocates for recovery.
How To Research a Financial Advisor
Before investing, always review your advisor’s background. For James Michael Poindexter (CRD 1867899):
- Visit FINRA BrokerCheck.
- Enter the name or CRD number to review the full disclosure history.
Check for any complaints, disclosures, or regulatory actions. Please note: as of today’s date, BrokerCheck shows no settled complaints or regulatory findings against Mr. Poindexter. Our ongoing investigation is based on the latest available claims and allegations.
Contact Our Team Today
If you invested with James Michael Poindexter in Prescott, Arizona, through McDermott Investment Services, LLC or Independent Wealth Network, Inc. and are facing unexplained losses or questionable recommendations, take action now. Our attorneys use proven insider knowledge and decades of experience to fight for your recovery.
Call 1-888-885-7162 now for a complimentary, confidential consultation. Protect your financial future with an accomplished legal team that truly understands what’s at stake. We are your advocates for answers, accountability, and meaningful recovery of your investment losses.
