James Roy Paige, of Vero Beach, Florida, a stockbroker registered with Wells Fargo Clearing Services LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim filed on February 6, 2024. The customers alleged that in 2021, Paige made investment recommendations that were unsuitable given the customers’ investment knowledge and needs. The customers also allege unauthorized trading. The investors requested compensatory damages exceeding $11,000,000.00. As of October 7, 2024, this matter is currently pending. FINRA Arbitration No. 24-00270.
According to FINRA Public Disclosure, on May 1, 2023, a different customer initiated investment related dispute about Paige was settled. The customer alleged that after 2020, Paige failed to diversify her portfolio and made unsuitable investment recommendations without disclosing risks. On May 1, 2023, the matter was resolved through a settlement in which Wells Fargo Clearing Services LLC paid $95,000.00 to the customer. Paige did not contribute to the settlement. FINRA Arbitration No. 23-01182.
On December 20, 2022, three customer initiated investment related disputes were closed with no action being taken by customers afterward. The customers had complained of unauthorized transactions between December 5, 2019, and December 20, 2022.
Paige has been associated with Wells Fargo Clearing Services LLC as a stockbroker since October 31, 2008. He was previously associated with Morgan Stanley Co. Incorporated.
