Founded in 2016 by David Millican, Arkadios Capital (“Arkadios”) is dually registered as a broker-dealer and Registered Investment Adviser.The firm, which states that is specializes in supporting high-quality, professional, and growth-oriented wealth management firms, is owned by Arkadios Holdings, Inc. As of March 2020, Arkadios had $3.5B+ assets under advisement (AUA). Headquartered in Atlanta, Georgia, the firm serves customers in all 50 states as well as the District of Columbia and Puerto Rico.
Arkadios is licensed by the Financial Industry Regulatory Authority (FINRA), and as such is legally obligated to ensure its brokers are acting lawfully in the interest of their investors. If a client suffers losses as a result of negligent behavior or misconduct from a broker, then the firm may be held legally responsible to repay the damages.
Despite being a relatively young firm, Arkadios is already facing accusations of wrongdoing. According to his CRD report, Mark Thompson, an advisor with Arkadios, has been the subject of three separate customer complaints from 2020 to 2022.
In May 2020, one of Thompson’s prior customers filed a complaint for $50,000 in damages against Arkadios for the misrepresentation of private placements in February 2017. The complaint is currently pending.
A complaint filed in July 2020, was settled in February 2022 for $138,000 against Arkadios (and Triad Advisors LLC) regarding direct investments and real estate securities. The investor alleged that Mr. Thompson, as a representative of Arkadios (and Triad) recommended unsuitable alternative investments.
In March 2022, a customer brought a case against Arkadios (and Triad) seeking $1M in damages, alleging negligence, overconcentration, and unsuitable recommendations concerning alternative investments (direct investments and real estate securities). The case is currently pending.
If you have suffered significant loss as a result of unlawful or negligent behavior or misconduct from a broker at Arkadios Capital, then the firm may be held legally responsible to repay the damages.
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