Jim Raia: $940K Complaint Against Emerson, Ex-Moloney Advisor

Irvine, California financial advisor Jim Raia (CRD# 2397301) has received multiple investor complaints alleging that his advice resulted in damages. Financial Industry Regulatory Authority records show that the former Moloney Securities representative is registered as a broker with Emerson Equity, doing business as Jim Raia Investment Group.

Mr. Raia’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in December 2025, alleged that as a representative of Moloney Securities, he misrepresented material facts and recommended unsuitable REIT and oil and gas investments. The complaint alleged damages of $115,000 and was withdrawn.

An earlier investor complaint, filed in January 2025, alleges that as a representative of Moloney Securities, he recommended unsuitable corporate bond investments and acted negligently. The pending complaint alleges damages of $940,000. In a statement included with the disclosure, Mr. Raia wrote, “I refute the allegations of the claims.”

A third investor complaint, filed in 2024, similarly alleged that he acted negligently and recommended unsuitable corporate bonds as a Moloney Securities representative. In 2025 the complaint reached a settlement of $192,500.

A fourth investor complaint, filed in 2023, also alleged that as a Moloney Securities representative, he made unsuitable corporate bond recommendations and engaged in negligence. In 2024 the complaint reached a settlement of $22,378.67.

A fourth investor complaint, filed in 2022, also alleges that he recommended unsuitable corporate bond products and acted negligently as a representative of Moloney Securities. In 2023 the complaint reached a settlement of $10,000.

According to the Financial Industry Regulatory Authority, Jim Raia holds 28 years of securities industry experience. Based in Irvine, California, he has been registered as a broker with Emerson Equity since May 2025, doing business as Jim Raia Investment Group. His past registrations include Moloney Securities, Summit Brokerage Services, JP Turner & Company, Gunnallen Financial, Greenpoint Securities, Essex National Securities, MetLife Securities, Shamrock Financial Services, and Continental Broker-Dealer Corporation. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Uniform Securities Agent State Law Examination, or Series 63; and the Corporate Securities Limited Representative Examination, or Series 62. He is licensed in California, Connecticut, Florida, New Jersey, New York, North Carolina, Pennsylvania, and South Carolina. (Information current as of December 23, 2025.)

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