Jacob Harper of D.A. Davidson is Suspended for Borrowing Money

Did you loan money to, or invest with Jacob Harper of D.A. Davidson? Israels & Neuman is looking into allegations involving Jacob Lee Harper, who was a representative with D.A. Davidson and worked in a Newport Beach, California office.

Allegations Against Jacob Harper

According to a FINRA regulatory action, Jacob Harper borrowed $50,000 from two customers of D.A. Davidson (who were also friends of Harper) in November 2024 and January 2025. Generally, advisors cannot borrow money from customers without prior firm approval and under limited circumstances, under FINRA Rule 3270. Harper allegedly returned $3,000 to one customer but has not returned any money to the other customer.

Additionally, FINRA alleged that Harper established three securities trading accounts outside of D.A. Davidson without getting prior permission. To settle these allegations, Harper agreed to a 22-month suspension from the securities industry and a fine of $17,500.

Background on Jacob Harper

Jacob Harper was licensed with D.A. Davidson from September 2023 to March 2025 at a Newport Beach, California office. Harper was also previously licensed with LPL Financial, Wells Fargo, and other firms. Harper also ran a firm called Harper Private Wealth.

Can D.A. Davidson Be Responsible for Losses?

FINRA Rule 3110 requires securities brokerage firms like D.A. Davidson to adequately supervise the activity of its advisors. D.A. Davidson could be responsible for investor losses if it failed to reasonably supervise him.

We Help Investors in California

We represent investors throughout the United States including California, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud. We have represented numerous investors in California in the past. If you were a client of Jacob Harper and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

Contact Us for a Free Case Evaluation

We offer contingency fee representation, meaning you pay nothing unless we recover money for you!

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights.

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