Investment loss recovery counsel at Soreide Law Group is looking into possible investor claims concerning James Ernest Joly (CRD#: 2193463, East Greenwich, Rhode Island). Evidently, the Financial Industry Regulatory Authority (“FINRA”) shows through BrokerCheck that the securities broker, who has worked at Cantella Co. since July 2018, and who previously worked for Voya Financial Advisors and LPL Financial, is involved in five investor disputes. Here’s more on those disputes, and what you could do if you experienced losses.
Namely, a client of Cantella brought a dispute about Jim Joly in April 2020 regarding an annuity transaction. Supposedly, Joly did not contact an estate attorney regarding a financial transaction. Allegedly, the client’s assets moved into an annuity and this created a tax consequence for their trust. Evidently, Cantella denied this client’s complaint.
Evidently, Jim Joly worked for LPL Financial from 1996 to 2017. Apparently, an LPL Financial client took aim at Joly’s sales practices. In the June 2019 complaint, the client indicated that Joly caused them losses on private securities. Supposedly, the securities broker arranged an unsuitable transaction. For this reason, the client demanded more than $84,000 in compensation. However, LPL Financial denied this client’s complaint in July 2019.
It appears that Jim Joly worked for Voya Financial Advisors from 2017 to 2018 as both a financial advisor and a securities broker. In July 2018, the securities firm disaffiliated with him for alleged misconduct. Specifically, Voya Financial Advisors mentioned that Joly had clients’ signed but incomplete documents on file. Not only that, but the securities firm alleged that the securities broker engaged in an outside business activity.
In addition, a client of LPL Financial disputed Jim Joly’s sales practices in a September 2017 complaint. It appears that Joly’s mutual fund and non-traded REIT transactions were not suitable. Secondly, the securities broker allegedly made unauthorized trades. However, LPL Financial denied this dispute.
Notably, a prior LPL Financial client disputed Jim Joly’s sales practices regarding TICs, REITs and BDCs. Supposedly, Joly had the client make unsuitable purchases of these alternative investments. For this reason, LPL Financial settled the matter through making an $87,500 payment to the client.
Did Jim Joly cause you to incur investment losses at LPL Financial, Voya or Cantella? If so, call Soreide Law Group at (888) 760-6552 and speak with an experienced securities lawyer about a possible recovery. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions for investors who incurred damages because of their financial advisors or securities brokers. Please note: Joly denies all allegations of his sales practice violations.
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KIRK JAMES CROSSEN (KIRK J CROSSEN) was previously registered with MORGAN STANLEY of Indianapolis, Indiana, from 09/16/2016 - 05/08/2023 and most recently with RAYMOND JAMES & ASSOCIATES of Carmel, Indiana, from 04/12/2023 - 11/16/2023. According to FINRA’s BrokerCheck, available to the public on FINRA’s website, in a “Regulatory” report dated 5/1/2025, KIRK J CROSSEN was suspended […]
RONALD G SMITH (RON G SMITH) was formerly registered with SPARTAN CAPITAL SECURITIES of New York, NY from 07/01/2013 - 12/26/2023, and most recently with SANFORD C BERSTEIN & CO of Stamford, Connecticut from 01/11/2024 – 11/10/2025, was permanently barred by FINRA with the starting date of 11/10/2025. According to the FINRA report, without admitting […]
Jacob Lee Harper (Jacob L Harper, Jake Harper) formerly registered as a broker and a financial advisor, was suspended for twenty-two months and fined $17,500.00 after FINRA alleged he borrowed thousands of dollars from clients without his firm’s knowledge and later allegedly provided false information to regulators. The “Regulatory” disclosure on BrokerCheck is dated 11/10/2025. […]
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