Haselkorn & Thibaut has commenced a thorough investigation into Jacob Harper, a former financial advisor most recently registered with LPL Financial in Laguna Niguel, California. Our objective is to provide investors with an up-to-date, factual overview of his background, alleged regulatory issues, and the implications for clients who worked with him at LPL Financial, DA Davidson & Company, and other large broker-dealers. If you are an investor who worked with Jacob Harper (CRD# 4258319), this detailed report will help you understand any potential risks and recognize your options. Don’t hesitate to contact our team for a free, confidential consultation at 1-888-994-8066.
Jacob Harper: Background and Professional Experience
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Jacob Harper is a broker with over 20 years of experience in the securities and investment sectors. He has served at several major firms, most recently as a registered representative at LPL Financial from March through October 2025, based in Laguna Niguel, California. His earlier affiliations include:
- DA Davidson & Company
- Wells Fargo Clearing Services
- Bancwest Investment Services
- US Bancorp Investments
- Merrill Lynch
He holds key industry credentials, having passed the Securities Industry Essentials Examination (SIE), Series 7, and Series 66 licensing exams. As of November 2025, Harper is no longer registered as a broker in the securities industry.
Regulatory Issues and FINRA Sanction:
According to public disclosures and FINRA records, Jacob Harper faced significant regulatory action as detailed below.
| Advisor Name | CRD# | Most Recent Broker-Dealer | Previous Broker-Dealer |
|---|---|---|---|
| Jacob Harper | 4258319 | LPL Financial | DA Davidson & Company |
In a Letter of Acceptance, Waiver, and Consent (No. 2025085030301) signed in November 2025, FINRA outlined several rule violations by Mr. Harper:
- Unapproved Borrowing from Customers: While registered at DA Davidson & Company, Harper allegedly borrowed $20,000 from one customer and $30,000 from another. Both individuals were not immediate family members or financial institutions. Firm policy requires loans with customers to be pre-approved and only under specific qualifying relationships, which was not followed.
- Lack of Documentation: The loans were reportedly handled without any written agreements specifying loan duration, repayment schedule, or interest rate. This was conducted as an outside business activity, further violating industry regulation.
- Failure to Notify Firm: Harper did not disclose or seek approval from DA Davidson regarding the loans, a clear breach of internal policies and regulatory requirements.
- Misrepresentation to Regulators: FINRA alleges that Harper provided “false, misleading, and incomplete responses” when asked for details about these customer loans.
- Undisclosed Outside Brokerage Accounts: He also opened and maintained outside securities accounts without his firm’s consent, contrary to standard industry practice.
Due to these findings, FINRA suspended Jacob Harper for 22 months and imposed a $17,500 fine. While regulatory cases can be complex, these findings are material for any investors reviewing their relationship with Harper or assessing losses that may have occurred.
Complaint and Litigation History: Is There a Record?
In evaluating any financial advisor, it’s crucial to consider their record of customer complaints, regulatory sanctions, and litigation. As of the latest public record, Jacob Harper had no customer complaints, arbitration filings, civil lawsuits, or criminal charges disclosed. Details are summarized below for your review:
| Customer Complaints | 0 |
| Arbitration Awards/Settlements | 0 |
| Regulatory (SEC/State Orders) | No SEC or State actions; recent FINRA sanction |
| Civil Litigation | 0 |
| Criminal Prosecution | 0 |
It’s important to note that BrokerCheck relies on self-reported and regulatory data, and recent actions may take several weeks to appear. For current details, review the FINRA BrokerCheck profile directly. Always check for updates, as records can change and new events may be reported.
Red Flags for Investors
If you worked with Jacob Harper at LPL Financial or DA Davidson & Company, here are key issues to be aware of based on regulatory findings:
- Unapproved personal loans with clients—a violation of both firm and FINRA rules.
- Failure to document loan terms and notify employer—potential risk to your investments and relationship with the advisor.
- Incomplete or untruthful information provided to regulators—an indicator of compliance and ethics concerns.
- Maintaining undisclosed outside brokerage accounts—raises transparency and conflict of interest concerns.
If you suspect that you may have been affected by these issues, reach out for a review of your account and investment history. Time-sensitive regulatory developments may impact your ability to seek recovery.
What Should Investors Do Next?
Haselkorn & Thibaut (investmentfraudlawyers.com) is a nationally recognized law firm focusing exclusively on securities fraud and investment loss recovery. With over 50 years of combined experience and a 98% success rate, our attorneys have recovered millions for clients. We believe that every investor deserves a personalized review and a clear understanding of their rights. If you have worked with Jacob Harper or have questions about your investments with LPL Financial or DA Davidson & Company, now is the time to take action.
- Contact Haselkorn & Thibaut by phone at 1-888-994-8066 for your free, confidential consultation
- No recovery, no fee—we only get paid if you recover your losses
- Our team is standing by to review your investments, identify risks, and recommend practical steps based on your unique situation
- Don’t wait—regulatory deadlines may apply and swift action can help secure your rights
In summary: Reviewing the facts surrounding Jacob Harper’s regulatory sanction, investors should be proactive, vigilant, and informed. The Haselkorn & Thibaut team is prepared to answer questions and provide trusted guidance every step of the way. Call 1-888-994-8066 today for peace of mind and a professional opinion—at no cost to you.
