Los Angeles, CA – November 25, 2025 – Chetan Patil of Patil Law, P.C., a securities fraud attorney, is investigating James Eugene Holmes III (CRD# 2174697), a former broker with Wells Fargo Clearing Services, LLC. According to FINRA records, Holmes faces 1 pending customer complaint alleging unsuitable investment recommendations, with alleged damages of $500,000. Holmes was discharged by Wells Fargo in September 2024 for using trading discretion in multiple client accounts without authorization.
The pending complaint, filed in April 2025, alleges that Holmes made unsuitable recommendations and implemented an unsuitable overall investment strategy during an unspecified time period while employed at Wells Fargo. The matter is currently pending in FINRA arbitration under Case No. 25-00745 and seeks damages of $500,000.
In September 2024, Wells Fargo Clearing Services terminated Holmes’s registration. According to the firm’s disclosure, he was discharged for using trading discretion in multiple client accounts. The products involved included equities, money market funds, and mutual funds.
According to FINRA records, James Eugene Holmes III has 34 years of experience in the securities industry. Based in Winston Salem, North Carolina, he was registered with Wells Fargo Clearing Services, LLC from August 2019 to October 2024. His previous registrations include Stephens (March 2011 – September 2019), Deutsche Bank Securities Inc. (January 2001 – April 2011), DB Alex. Brown LLC (September 1997 – January 2001), and Alex. Brown & Sons Incorporated (October 1991 – September 1997). Holmes has passed the Series 7, Series 63, Series 65, and SIE examinations. He is currently employed as a Financial Advisor with Three Magnolias Financial Advisors.
Patil Law, P.C. is currently investigating claims on behalf of investors who were recommended unsuitable or high-risk investments by James Holmes. Our firm has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases.
We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you. We represent individual investors and families nationwide.
If you suffered losses related to James Holmes’s alleged unsuitable recommendations or unauthorized trading, you may be entitled to compensation. However, time is limited—FINRA arbitration claims generally must be filed within six years of the incident.
Contact Patil Law, P.C. today at 800-950-6553 or email info@patillaw.com for a free case evaluation. Don’t let time run out on your right to recover your losses.
The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending or unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship.
