Haselkorn & Thibaut has opened an investigation into Sacramento financial advisor Joe Eschleman and his activities at Purshe Kaplan Sterling. If you’ve worked with Mr. Eschleman or invested in Delaware Statutory Trusts (DSTs) through his recommendations, understanding the recent developments surrounding his practice could be crucial for protecting your financial interests.
Understanding Joe Eschleman’s Professional Background
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Joe Eschleman, operating out of Sacramento, California, brings 26 years of securities industry experience to his practice. Currently registered as a broker with Purshe Kaplan Sterling and an investment advisor with Towerpoint Wealth since 2017, Eschleman maintains licenses in California, Pennsylvania, Tennessee, and Texas.
His professional credentials include passing four key securities examinations:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Before joining his current firms, Eschleman held registrations with major financial institutions including Wells Fargo Clearing Services and Prudential Securities.
Recent Investor Complaint: The DST Transaction
In September 2025, a significant investor complaint was filed against Joe Eschleman in his capacity as a representative of Purshe Kaplan Sterling. The complaint centers on what the investor describes as an unsuitable recommendation for a 1031 exchange transaction.
| Complaint Details | Information |
|---|---|
| Filing Date | September 2025 |
| Transaction Type | 1031 Exchange involving DSTs |
| Properties Involved | Campus Walk DST and 4th & J DST |
| Alleged Damages | $1,175,140.23 |
| Status | Pending |
Delaware Statutory Trusts often appeal to investors seeking tax-deferred treatment through 1031 exchanges. However, these complex investments carry specific risks that may not align with every investor’s financial situation or risk tolerance. The substantial damages claimed—over $1.17 million—highlight the significant financial impact such transactions can have on investors’ portfolios.
Prior FINRA Disciplinary Action: A Pattern of Concern?
This recent complaint isn’t the first regulatory issue on Eschleman’s record. In 2018, FINRA took disciplinary action against him for exercising discretion in customer accounts without proper authorization. According to his BrokerCheck report, FINRA found that Eschleman:
- Sold securities in a customer’s IRA to fund a required minimum distribution without written authorization
- Sold securities from a trust account without obtaining proper discretionary authority
The regulatory body imposed a 10-day suspension and a $5,000 fine. While Eschleman satisfied these sanctions, the violation raises questions about adherence to fundamental industry rules designed to protect investors.
Red Flags for Investors
When evaluating your relationship with any financial advisor, including Joe Eschleman at Purshe Kaplan Sterling, consider these warning signs:
1. Unauthorized Trading: The 2018 FINRA action demonstrates a history of making trades without proper written authorization. This behavior violates basic investor protection rules.
2. Complex Product Recommendations: DSTs and 1031 exchanges are sophisticated investment strategies. If these were recommended without thorough discussion of risks, fees, and suitability, it may indicate problematic advisory practices.
3. Large Loss Claims: The $1.17 million damage claim suggests the potential for significant financial harm from investment recommendations.
4. Pattern of Issues: Multiple disclosures over time may indicate ongoing compliance challenges rather than isolated incidents.
What This Means for Current and Former Clients
If you’ve invested with Joe Eschleman through Purshe Kaplan Sterling or his previous firms, particularly in DSTs or through 1031 exchanges, now is the time to review your account statements and investment performance carefully.
Consider whether:
- Your investments aligned with your stated risk tolerance and financial goals
- You received clear explanations of all risks and fees associated with DST investments
- Any trades occurred in your account without your explicit authorization
- Your losses seem disproportionate to market conditions
Protecting Your Investment Rights
Time limits apply to filing claims for investment losses. The securities industry maintains specific statutes of limitations that can bar recovery if you wait too long to act. Understanding your rights and options quickly becomes essential when concerns arise about your financial advisor’s recommendations or conduct.
Haselkorn & Thibaut, a national securities fraud law firm with over 50 years of experience, has achieved a 98% success rate in helping investors recover millions in losses. The firm operates on a no recovery, no fee basis, ensuring you can pursue your rights without upfront costs.
Take Action Today
Investment losses from unsuitable recommendations or unauthorized trading can devastate retirement plans and financial security. If you’ve experienced losses while working with Joe Eschleman at Purshe Kaplan Sterling, or if you have concerns about DST investments or 1031 exchanges in your portfolio, professional legal guidance can help clarify your options.
Don’t wait for losses to compound. Contact Haselkorn & Thibaut today at 1-888-628-5590 for a free, confidential consultation about your investment concerns. Their experienced team can review your situation and help you understand whether you have grounds for recovering your losses.
Remember, every day matters when protecting your financial future. Call 1-888-628-5590 now to speak with a securities attorney who understands the complexities of DST investments and advisor misconduct claims.
