First Capital Real Estate Trust, formerly known as United Realty Capital Trust, has also missed filing financial statements with the SEC for more than a year and recently cut its dividend to investors.
Mr. James has long been involved in leadership roles at the broker-dealer his father founded in 1962.
The Denver area practice will operate as First Avenue Wealth Partners.
Massachusetts' William Galvin charged the nation's largest independent B-D with failing to supervise a top-producing broker who allegedly committed fraud in selling unsuitable VAs.
Admits to stealing money from a family's trusts that he was managing and using it for personal expenses. <b><i>(Related read: <a href="//www.investmentnews.com/article/20160519/FREE/160519910/massachusetts-investment-adviser-gregg-caplitz-sentenced-to-prison"" target=""_blank"" rel="noopener noreferrer">Massachusetts investment adviser Gregg Caplitz sentenced to prison for fraud, SEC says </a>)</b></i>
The regulator said Anthony Mastroianni Jr. churned an elderly client's account at two different brokerages.
Finra settlement also includes $780,000 in restitution to 22 clients who borrowed against their accounts to invest in Puerto Rico securities. <b><i>(More: <a href="http://www.investmentnews.com/article/20161003/FREE/161009993/massachusetts-charges-morgan-stanley-over-unethical-sales-contest""" target=""_blank"" rel="noopener noreferrer">Massachusetts charges Morgan Stanley over unethical sales contest</a>)</b></i>
Taking $2.6 billion in assets with him, Carson is second prominent adviser to leave LPL this month. <b><i>(More: <a href=""" target=""_blank"" rel="noopener noreferrer">Carson on why we're on the eve of massive disruption in financial services</a>)</i></b>
During one nine-month period, the firm failed to deliver close to 2.1 million prospectuses to online customers because of a missing hyperlink.
