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Broker Spotlight: James Raia

James RaiaPublic records provided by the Financial Industry Regulatory Authority (FINRA) on June 22, 2016 indicate that New York-based Summit Brokerage Services broker James Raia has received settled or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Raia (CRD# 2397301).

James Raia has spent 19 years in the securities industry and has been registered with Summit Brokerage Services in Ridgewood, New York since September 2015. Previous registrations include JP Turner & Company in Ridgewood, New York; Gunnallen Financial in Ridgewood, New York; Greenpoint Securities in Lake Success, New York; Essex National Securities in Napa, California; MetLife Securities in New York, New York; Metropolitan Life Insurance in New York, New York; Shamrock Financial Services, which has since been expelled by FINRA, in Lake Success, New York; and Continental Broker-Dealer Corporation, which has since been expelled by FINRA, in Carle Place, New York. He is a registered broker with seven US states: California, Connecticut, Florida, Maryland, New Jersey, New York, and Pennsylvania.

According to his BrokerCheck report, James Raia has received two customer complaints and two pending customer complaints.

In April 2016, a customer alleged James Raia, while employed at Gunnallen Financial, recommended an unsuitable investment in a Harvard Behringer 1 real estate investment trust. The customer is seeking $100,000 in damages in the pending complaint.

In 2013, a customer alleged James Raia, while employed at Gunnallen Financial, recommended unsuitable investments and misrepresented material facts. The complaint settled in 2014 for $24,500, to which Mr. Raia individually contributed $24,500.

In 2013, a customer alleged James Raia, while employed at Gunnallen Financial, acted negligently, breached contract, made an unsuitable investment recommendation, and misrepresented material facts. The complaint settled for $24,395, to which Mr. Raia individually contributed $24,395.

In 2005, a customer alleged James Raia, while employed at Greenpoint Securities, misrepresented material facts related to an investment. The customer is seeking $18,000 in damages in the pending complaint.

If you have lost money investing with James Raia, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recover lost funds. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.