Tim Marshall: Ex-Great Point Advisor Receives DST Complaint

Chicago, Illinois financial advisor Tim Marshall (CRD# 2037031) recently received an investor complaint alleging that he recommended an unsuitable investment. Financial Industry Regulatory Authority records show that he is registered as a broker with Quincy Wells Capital and the owner of TM 1031 Exchange, having previously been registered with Great Point Capital.

Mr. Marshall’s BrokerCheck report discloses one investor complaint. Filed in October 2025, it alleges that as a representative of Great Point Capital, he made an unsuitable investment recommendation, failed to perform adequate due diligence, breached contract, and breached his fiduciary duty in connection with the purchase of a Delaware Statutory Trust (DST) as part of a 1031 exchange. The pending complaint alleges unspecified damages.   

For reference, a Delaware Statutory Trust (DST) is a trust entity created that allows individual investors to purchase ownership interests in large, institutional-grade real estate assets that would otherwise be inaccessible to them. Examples of these assets include apartment complexes, senior living facilities, and commercial real estate. Investors pool their funds into the DST, which is managed by a professional sponsor or trustee. The sponsor or trustee oversees the acquisition, operation, and sale of the property on behalf of the trust’s beneficiaries. Investors can use DSTs as replacement properties in a 1031 exchange, which gives them the ability to defer capital gains taxes by reinvesting proceeds from the sale of another property into a DST. Risks of this strategy include illiquidity, high fees, and a lack of control over the investment. For these reasons, DSTs may be considered unsuitable for investors with limited experience and/or a low tolerance for risk.

According to the Financial Industry Regulatory Authority, Tim Marshall holds 20 years of securities industry experience. Based in Chicago, Illinois, he has been registered as a broker with Quincy Wells Capital since May 2026. The owner of TM 1031 Exchange, his past registrations include Great Point Capital, Primex, Lighthouse Capital, Niagara International Capital, McDermott Investment Services, DFPG Investments, Omni Brokerage, United Equity Securities, Direct Capital Securities, and Dean Witter Reynolds. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; and the Direct Participation Programs Representative Examination, or Series 22. He is licensed in California. (Information current as of May 4, 2026.)

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