Former Lenexa, Kansas broker and investment adviser Douglas Elstun (CRD# 2338588) has been named in a pending SEC enforcement action...Read More
Jim Wilcox: Jackson Broker Allegedly Caused $1MM Loss
A pending investor complaint against First Republic Securities Company broker and investment adviser James Wilcox (CRD# 4261884) alleges losses of $1.1 million. According to Financial Industry Regulatory Authority (FINRA) records, Wilcox is currently based in First Republic’s branch offices in Jackson, Wyoming; San Francisco, California; and Los Angeles, California.
Jim Wilcox’s BrokerCheck report lists two pending customer complaints against him. The most complaint was filed in November 2020. It alleges that as a representative of First Republic Securities Company, Jim Wilcox recommended an unsuitable investment strategy involving index options. The pending complaint alleges damages of $1.1 million.
A second pending investor complaint, filed in July 2020, also alleges that as a representative of First Republic Securities Company, Jim Wilcox recommended an unsuitable investment strategy involving index options. This pending complaint alleges damages of $800,000.
According to its BrokerCheck report, Jim Wilcox’s member firm, First Republic Securities Company, has received one investor complaint that evolved into arbitration. Filed in 2010, the complaint alleged that First Republic Securities breached its fiduciary duty, misrepresented and omitted material facts, made unsuitable investment recommendations, breached contract, acted negligently, and failed in its supervisory duties with regard to investments in municipal bond funds, limited partnerships, and structured products. In 2012 the complaint concluded in an award to the investor of $870,631.50.
Financial Industry Regulatory Authority (FINRA) records show that Jim Wilcox holds 20 years of securities industry experience. He has been registered with First Republic Securities Company in Jackson, Wyoming, San Francisco, and Los Angeles since 2018 and 2019. He was previously registered with Goldman Sachs & Company in New York, New York. He has passed six securities industry qualifying examinations: the Uniform Combined State Law Examination, or Series 66; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the National Commodity Futures Examination, or Series 3. He currently holds 54 state securities licenses. (Information current as of July 13, 2021.)