Jim Groves: $1.5mm Complaint Against Raleigh Capital Advisor

Cary, North Carolina financial advisor Jim Groves (CRD# 1657245) recently received an investor complaint alleging that his conduct resulted in damages exceeding $1 million. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former PNC Investments broker is currently registered as an investment advisor with Raleigh Capital Management, doing business as Raleigh Wealth Partners.

Mr. Groves’ BrokerCheck report discloses one investor complaint. Filed in March 2026, it alleges that as a representative of Raleigh Capital Management, he recommended unsuitable investments, failed to act in the customers’ best interests, misrepresented and omitted material facts, breached his fiduciary duty, acted negligently, breached contract, failed to perform adequate due diligence, and committed elder abuse in connection with variable annuities and alternative investments. The pending complaint alleges damages of $1.5 million.

For reference, FINRA rules and other securities industry standards prohibit brokers like Mr. Groves from misrepresenting material information relating to the investments they recommend to their customers. FINRA Rule 2020 specifically stipulates that no broker shall “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” FINRA-registered representatives who make misrepresentations regarding investments or investment strategies may be held liable in the event of losses. They may also be subject to disciplinary action by securities industry regulators.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Jim Groves holds 33 years of securities industry experience. Based in Cary, North Carolina, he has been registered as an investment advisor with Raleigh Capital Management since 2018, doing business as Raleigh Wealth Partners. His registration history includes PNC Investments and MetLife Securities. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He is licensed in North Carolina. (Information current as of June 20, 2026.)

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