Our firm is investigating Steward Partners Investment Solutions broker and investment advisor Joshua T. Jaffe (CRD# 5085863) of Newark, Ohio for potential investment-related misconduct.
Financial Advisor’s Career History
According to FINRA BrokerCheck, Joshua T. Jaffe has worked in the securities industry since 2006. He is currently registered with Steward Partners Investment Advisory, LLC and Steward Partners Investment Solutions, LLC, operating out of a branch office located at 1536 West Church Street, Newark, Ohio 43055. His registrations reflect both investment adviser representative and general securities representative roles in multiple states.
Jaffe was previously registered with:
- Ameriprise Financial Services, LLC (CRD# 6363) in Newark, Ohio, as both a broker and investment adviser from June 2020 through August 2025.
- J.P. Morgan Securities LLC (CRD# 79) in Johnstown, Ohio, as a broker and investment adviser from October 2012 through July 2020.
- Chase Investment Services Corp. (CRD# 25574) in Pataskala, Ohio, as a broker from November 2010 through October 2012 and as an investment adviser from January 2012 through October 2012.
- PFS Investments Inc. (CRD# 10111) in Cleveland, Ohio, as a broker from May 2006 through November 2010.
His employment history also reflects other business activities, including ownership or management roles in entities such as Redwood Renovations, Inc., Redwood Holding Company, and 3J&E, LLC, while remaining active in the financial services industry.
Joshua T. Jaffe Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck discloses one customer dispute and one employment separation after allegations involving Joshua T. Jaffe. While the reported customer complaint was ultimately denied, and the employment separation was recorded as a voluntary resignation, these disclosures are important data points for investors evaluating his history.
Customer Dispute Alleging Unsuitable Securities-Backed Line of Credit Recommendation
- Type of disclosure: Customer dispute – closed, denied (no action).
- Employing firm at the time: Ameriprise Financial Services, LLC.
- Core allegation: The client alleged that Jaffe made an unsuitable recommendation in early 2021 to establish a variable-rate securities-backed line of credit attached to their Strategic Portfolio Services Advantage account.
- Product type: Other – securities-based line of credit.
- Alleged damages: $202,330.00.
- Complaint received:
- Reported by the firm as received on September 22, 2025.
- Reported by the broker as received on October 1, 2025.
- Resolution: The complaint was denied and is not pending; the status date is reported as October 31, 2025, indicating the firm closed the matter without payment to the customer and with no finding of wrongdoing.
Even when a complaint is denied, FINRA requires that these allegations be disclosed if they meet certain thresholds for alleged damages and sales-practice concerns. Investors can use these records to better understand the types of products and recommendations that have been questioned in a broker’s history.
Employment Separation After Allegations at J.P. Morgan Chase Bank, N.A.
- Type of disclosure: Employment separation after allegations.
- Employer: J.P. Morgan Chase Bank, N.A.
- Termination type: Voluntary resignation.
- Termination date: June 26, 2020.
- Allegations: The firm reported that Jaffe “voluntarily resigned after allegations that he failed to escalate a customer complaint.”
- Product type: No specific product is identified in the disclosure.
This type of disclosure does not, by itself, establish that Jaffe violated any securities laws or FINRA rules, but it signals that a prior employer believed his handling of a customer complaint did not meet its internal standards for escalation and review.
Taken together, the denied customer dispute involving a securities-backed line of credit and the prior employment separation after allegations involving failure to escalate a complaint are the core reportable events investors should review when evaluating Joshua T. Jaffe’s background.
In light of these disclosures, investors who worked with Jaffe at Ameriprise Financial Services or at his current firm, Steward Partners, and who were recommended complex credit products or other higher-risk strategies, may wish to review their accounts for potential unsuitability, over-leverage, or undisclosed risks tied to securities-backed lines of credit and related investment strategies.
To obtain a copy of Joshua T. Jaffe’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111, the Suitability Rule, is central to understanding the allegations that an advisor recommended an unsuitable variable-rate securities-backed line of credit. FINRA Rule 2111 requires that a broker or financial advisor have a reasonable basis to believe that a recommendation is suitable for a particular customer based on the customer’s investment profile—including age, financial situation and needs, risk tolerance, investment objectives, time horizon, and experience. When an advisor suggests that a client borrow against their investment portfolio, the advisor must reasonably assess whether the additional leverage, interest-rate exposure, and risk of collateral calls are appropriate for that specific client. In the customer dispute involving Jaffe, the client claimed that the recommendation of a securities-backed line of credit attached to their Strategic Portfolio Services Advantage account was unsuitable in early 2021, suggesting that the advisor may not have adequately matched the product’s risks to the client’s true risk tolerance or financial circumstances, even though the firm ultimately denied the complaint.
FINRA Rule 2010 requires brokers to observe high standards of commercial honor and just and equitable principles of trade. This rule is often cited in cases where a broker’s conduct may not fit neatly into a more specific rule but still falls short of industry standards. In the context of both the alleged unsuitable recommendation and the employment separation involving failure to escalate a customer complaint, Rule 2010 provides an important framework. If an advisor fails to timely escalate a client’s concerns to compliance or management, that behavior can undermine the firm’s ability to address potential misconduct or errors and may be viewed as inconsistent with the duty to act honestly and fairly. Likewise, recommending a risky, complex credit product without ensuring the client fully understands the consequences and without properly documenting suitability can be viewed as a potential violation of the high ethical standards required by Rule 2010, even where there has been no final regulatory finding of misconduct in the specific disclosures.
FINRA Rule 3110, the Supervision Rule, requires brokerage firms to establish and maintain a system to supervise the activities of each associated person that is reasonably designed to achieve compliance with securities laws and FINRA rules. While supervisory responsibility typically rests with the firm and its designated supervisors rather than the individual advisor, an advisor’s failure to escalate a customer complaint—as alleged in Jaffe’s employment separation disclosure—can directly interfere with the firm’s ability to meet its Rule 3110 obligations. When an advisor does not promptly report a complaint about a transaction or recommendation, compliance personnel may not learn of potential problems with a product or sales practice, including issues like unsuitable recommendations or misuse of securities-backed lines of credit. In that sense, the conduct described in the disclosure is highly relevant to the supervisory framework imposed by Rule 3110 and underscores why escalation and transparency are critical to investor protection.
The Law Offices of Robert Wayne Pearce, P.A. is a nationally recognized securities law firm representing investors in FINRA arbitration and securities fraud cases on a contingency fee basis. Robert Wayne Pearce, the founding attorney, has more than 45 years of experience recovering millions for victims of broker misconduct and investment fraud. He previously defended major brokerage firms and now uses that insight to protect investors nationwide. To discuss your case directly with Mr. Pearce, call (800) 732-2889 or email pearce@rwpearce.com for a free consultation.