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Former Voya Financial Advisor, James T. Flynn, Barred From The Securities Industry By FINRA

James Travis Flynn is a former Financial Advisor at Voya Financial Advisors, Inc. in Greenville, South Carolina.  After being terminated by Voya in August 2017 for providing “misleading information to the Firm during a complaint investigation,” James Flynn briefly joined IFS Securities, where he was terminated in 2018 for allegations he “traded ahead of authorization.’  James Flynn has been in the securities industry since 1998 and previously worked at VSR Financial Services, Inc., Sunset Financial Services, Inc., Intersecurities, Inc., BB&T Investment Services, Inc., Wachovia Securities, LLC, UVest Financial Services Group, Inc., Brookstone Securities, Inc. and Capital Investment Group, Inc.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on June 1, 2018, FINRA barred James Flynn from associating with any securities broker-dealer after he “failed to respond to FINRA request for information.” 

Additionally, James Flynn has been the subject of twenty-six customer complaints since 2015, alleging sales practice misconduct.  Among the complaints against James Flyn include the following:

  • March 2019 – “Allegations within the statement of claim include customer was advised to liquidate entire portfolio and invest in unsuitable, high risk, high fee, and illiquid investments.”
  • March 2019 – “Allegations include investments recommended in May 2015 were not suitable for customer due to age at purchase and customer was not informed investment was no liquid and could not be actively traded.”
  • February 2019 – “The allegations within the Statement of Claim are that representative sold the clients a portfolio of high commission, illiquid, and speculative investments without regard to their investment objectives and risk tolerance.”
  • December 2018 – “Statement of claim includes misrepresentation and unsuitable investments.”  The alleged damages are $100,000.
  • October 2018 – “Allegations include misrepresentations and unsuitable recommmendations beginning in August 2013.”  Alleged damages are $330,206.
  • August 2018 – “Customer alleges representative transferred assets from a 401k account into illiquid and unsuitable investments without proper diversification.”  That matter settled for $90,000. 
  • August 2018 – “Verbal complaint alleging alternative investments recommended beginning in January 2014 were not suitable.”  The matter settled for $50,000. 
  • May 2018 – “Customer alleges the recommendation for the alternative investment product purchased in June 2014 in his IRA and joint account was not suitable for his goals and objectives.”  The case settled for $75,000.
  • December 2017 – “Customer alleges REIT purchased in June 2015 was not suitable as he was not aware it wasn’t actively traded or of risks involved.”  The matter settled for $33,912.73.
  • May 2017 – “Custonmer questioned suitability of REIT investments and the replacement of a variable annuity policy.  REITs were purchased in 2014 and 2015.”  The matter settled for $167,673.17.

For a copy of James Flynn’s CRD, click https://brokercheck.finra.org/individual/summary/3082615#disclosuresSection

James Flynn discloses a Chapter 11 bankruptcy in 2013, and outstanding Federal Tax Liens of $256,165 and $18,837.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.  

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.  We can be reached at 800.931.8452 or by email at mwolper@wolperlawfirm.com.

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