Jared Roskelley (CRD #: 3139812), a broker registered with Raymond James Financial Services, is involved in a dispute regarding unsuitable REIT investments, according to his BrokerCheck record, accessed on March 26, 2021. Roskelley also offers advisory services through Jackson/Roskelley Wealth Advisors.
On February 19, 2021, an investor alleged that Jared Roskelley recommended unsuitable REIT investments and an unsuitable variable annuity. The investor further alleged that Roskelley misrepresented certain securities – specifically that he did not provide accurate information regarding the substantial risk for losses and the large commissions that Roskelley would earn. The investor is seeking $500,000; the dispute is pending.
Previous Investor Allegation Regarding a REIT
There is another dispute that references a REIT on Jared Roskelley’s record. On July 28, 2017, an investor alleged that Roskelley recommended an unsuitable Phillips Edison REIT. The investor stated that the REIT was illiquid, which does not fit the investor’s needs. The investor sought $40,000 but the firm denied the dispute. Firms can deny disputes without facing FINRA arbitration, and investors can still pursue arbitration following a denial.
1031 Exchange Disputes and Regulatory Action
On June 16, 2010, an investor alleged that Roskelley engaged in negligence, negligent supervision, and misrepresentation. These allegations stemmed from a 1031 exchange and an investment in an alleged Ponzi scheme. The investor sought $1,100,000; the dispute settled for $240,000. You can read a copy of the arbitration award here.
Roskelley also has a regulatory action on his record. On December 1, 2005, Jared Roskelley entered in an Acceptance, Waiver, & Consent agreement (AWC) with the National Association of Securities Dealers in which he consented to the findings that he had participated in a private securities transaction without providing written notice to his firm. This transaction involved a 1031 exchange that Roskelley recommended to his clients. When brokers engage in private securities transactions, they are required to notify their firms of their proposed role in the transaction and disclose any selling compensation they might receive. As part of the AWC, Roskelley consented to an eight-month suspension and a $22,713 fine. You can read a copy of the AWC here.
On October 29, 2004, Jared Roskelley was fired from his position at Sunamerica Securities, following allegations that he failed to receive firm approval before recommending a 1031 exchange. Roskelley allegedly received compensation for the exchange.
Jared Roskelley’s Securities Industry Experience
Jared Roskelley has passed the Series 66 Uniform Combined State Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 7 General Securities Representative Examination, and the Series 24 General Securities Principal Examination. He is a registered broker in 33 states and a registered investment adviser in Arizona and Texas.
Jared Roskelley has worked for the following firms:
- Raymond James Financial Services (CRD #: 6694)
- Raymond James Financial Services Advisors (CRD #: 149018)
- Jackson Roskelley Wealth Advisors (CRD #: 116530)
- Cambridge Investment Research Advisors (CRD #: 134139)
- Cambridge Investment Research (CRD #: 39543)
- DeGreen Financial (CRD #: 107582)
- Cornerstone Financial Planning (CRD #: 114859)
- Sumamerica Securities (CRD #: 20068)
If you have worked with Jared Roskelley and you have questions about your REIT investments or 1031 exchanges, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email email@example.com for a free case consultation with a securities attorney.