Josiah Jennings: FINRA Suspends Ex-Columbia Capital Advisor

Yorba Linda, California financial advisor Josiah Jennings (CRD# 6031164) was recently sanctioned and suspended in connection with alleged rule violations. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Columbia Capital Securities broker is currently registered as an investment advisor with Vela Consulting.

A Letter of Acceptance, Waiver, and Consent (No. 2024083338801) describes FINRA’s disciplinary action against Mr. Jennings. Filed in August 2026, it states that he participated in undisclosed private securities transactions while associated with Columbia Capital. In October 2021, according to FINRA, he “co-founded a private equity fund, held an ownership interest in the fund’s general partner, and served as the general partner’s chief executive officer.” His role was approved by Columbia Capital as an outside business activity, with the condition that he would comply with FINRA rules surrounding private securities transactions.

Despite this condition, he allegedly participated in a private securities offering between April and August 2024. The offering involved the sale of promissory notes, as part of which he “consulted with counsel, participated in drafting the offering documents, selected investors the fund would solicit, participated in initial outreach meetings with those investors, and executed the promissory notes on behalf of the fund.”

The offering ultimately raised around $8 million from 18 investors, according to FINRA, “nearly all of whom were customers at Columbia due to their earlier purchase of equity interests in the fund.” Finding that his failure to notify the firm of his participation in the offering violated FINRA rules, FINRA issued him a fine of $10,000 and a 10-month suspension from associating with any member firm in all capacities.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, William Jennings holds 14 years of securities industry experience. Based in Yorba Linda, California, he has been registered as an investment advisor with Vela Consulting since 2019. His past registrations include Columbia Capital Securities, AK Financial Group, LPL Financial, Larson Financial Group, and Larson Financial Securities. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. He is licensed as an investment advisor in California. (Information current as of August 13, 2026.)

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