Joe Eschleman: $1mm DST Complaint Against Purshe Kaplan Advisor

Sacramento, California financial advisor Joe Eschleman (CRD# 3237843) allegedly recommended an unsuitable DST transaction, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker with Purshe Kaplan Sterling and an investment advisor with Towerpoint Wealth

Mr. Eschleman’s BrokerCheck report discloses a recent investor complaint. Filed in September 2025, it alleges that as a representative of Purshe Kaplan Sterling investments, he unsuitably recommended the customer effect a 1031 exchange involving a Campus Walk Delaware Statutory Trust (DST) and a 4th & J DST. The pending complaint alleges damages of $1,175,140.23.

In a statement included with the complaint’s disclosure, Mr. Eschleman defended himself against the allegations. “I deny the allegations made by the client. All risks and material information regarding the DST investment were fully disclosed and discussed,” he wrote. “At all times, I acted in good faith and in the client’s best interest, consistent with industry rules and standards.

A second disclosure on his BrokerCheck report concerns a FINRA disciplinary action against him. Filed in 2018, it alleged that he exercised discretion in customer accounts without obtaining written authorization from the customers or his firm’s acceptance of the accounts as discretionary. “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,” the disclosure states. “Eschleman again exercised discretion without written authority when he sold securities from a trust account maintained by this customer and his wife.” The regulator issued him a 10-day suspension and ordered him to pay a fine of $5,000.

According to the Financial Industry Regulatory Authority, Joe Eschleman holds 26 years of securities industry experience. Based in Sacramento, California, he has been registered as a broker with Purshe Kaplan Sterling and an investment advisor with Towerpoint Wealth since 2017. His past registrations include Wells Fargo Clearing Services and Prudential Securities. His credentials include the passage of four securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7. He is licensed in California, Pennsylvania, Tennessee, and Texas. (Information current as of September 30, 2025.)

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