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FINRA Bars Advisor Over Misuse of Client Funds and Not Cooperating

Posted on November 11th, 2025 at 9:35 AM
FINRA Bars Advisor Over Misuse of Client Funds and Not Cooperating

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï

The Financial Industry Regulatory Authority (FINRA) has barred former Raymond James financial advisor Jose A. Gamez after he failed to appear for testimony in connection with allegations that he used client funds for personal purposes.

According to FINRA’s order, Gamez began his career in November 2000 as a general securities representative with USAA Investment Management. According to ThinkAdvisor, he held registrations with several firms, including Chase, Capital One, and LPL Financial, before joining Raymond James Financial Services in San Antonio in April 2017.

ThinkAdvisor reports that Raymond James filed a Form U-5 in July 2025 to terminate Gamez’s registration, citing concerns that he “used client funds for personal reasons.” Shortly afterwards, a client complaint alleged that Gamez had misappropriated nearly $1.9 million. That claim later was settled for $413,370, according to regulatory filings.

During FINRA’s investigation into the allegations, Gamez failed to produce requested documents and information as required under FINRA Rule 8210. His noncompliance constituted violations of both FINRA Rules 8210 and 2010. Consequently, FINRA has barred Gamez from associating with any FINRA member firm in any capacity.

Gamez accepted and consented to FINRA’s findings without admitting or denying its conclusions, as outlined in the FINRA Acceptance, Waiver and Consent (AWC) letter.

 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, finra

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