Darrin James: Why Was James & Sons Advisor Fired?

Lubbock financial advisor Darrin James (CRD# 4719616) was recently fired by his former member firm, Raymond James Financial Services, over alleged policy violations. Financial Industry Regulatory Authority records show that he is now a broker and investment advisor with LPL Financial, doing business as James & Sons Wealth Management.

According Mr. James’s BrokerCheck report, he was terminated from Raymond James & Associates in February 2022. His firing related to allegations that he violated “investment-related statutes, regulations, rules or industry standards of conduct.” The firm’s statement on the disclosure adds that he allegedly “placed trades in personal account in excess of firm and Reg T margin limits,” and that there was “No client involvement.” 

For reference, the Federal Reserve Board’s Regulation T “gives an investor a maximum of four business days to pay for securities purchased in a cash or margin account,” according to FINRA’s investor resources. In cases where the payment due is not received by the end of that period and is more than $1,000, “the broker-dealer must either liquidate the position or apply for and receive an extension from its designated examining authority.”

According to the Financial Industry Regulatory Authority, Darrin James holds 18 years of securities industry experience. Based in Lubbock, Texas, he has been a broker and investment advisor with LPL Financial since May 2022, doing business as James & Sons Wealth Management. His past registrations include Independent Financial Group (Lubbock, Texas; 2022), Raymond James & Associates (Sugar Land, Texas; 2014-2022), Wells Fargo Advisors (Sugar Land, Texas; 2008-2014), and A.G. Edwards & Sons (Sugar Land, Texas; 2003-2008). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Arizona, Georgia, Illinois, Louisiana, Mississippi, North Carolina, Oklahoma, Pennsylvania, and Texas. (Information current as of July 5, 2022.)

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