James Edward Knee (CRD #1852920) is a former registered broker and investment advisor who was last employed with Voya Financial Advisors, Inc. (CRD #2882) of Concord, NH. He was previously employed by Ameriprise Financial Services, Inc. (CRD #6363), Investors Capital Corp. (CRD #30613) and Cambridge Investment Research, Inc. (CRD #39543), all of Concord. He has been in the industry since 1988.
Knee is the subject of nine disclosures. One is regarding his discharge from Voya Financial Advisors, one is an unknown pending investigation in the state of New Hampshire, and one is a regulatory action initiated by FINRA. Of the six customer disputes, three were denied and three were settled.
FINRA barred Knee on 05/18/2018 after he refused to appear for on-the-record testimony. He was the subject of allegations of funds misappropriation during his tenures with both Voya and Ameriprise. After signing an Acceptance, Waiver & Consent (AWC) letter, Knee was indefinitely barred in all capacities.
During his discharge from Voya, the company alleged that Knee failed to “cooperate in an internal investigation relating to potential receipt by the representative of a cash gift from a customer.” In his rebuttal, Knee claims to have disclosed the cash gift and cooperated, but Voya’s actions during the investigation required him to retain legal counsel.
Knee’s most recent customer dispute was filed on 05/24/2018, by a customer’s attorney. In it, the attorney alleges that the customer was “deceptively led to purchase certain annuity products in 2016.” Damages requested totaled $84,124.00, and the case was settled for $82,290.00.
His next dispute was filed on 02/07/2017, alleging that information on a document had been added after it was signed by the customer. This case was settled for $23,749.38.
The last settled dispute was filed on 12/21/2015, while Knee was employed with Ameritrust. The client alleged an unsuitable recommendation of the purchase into a royalty trust. This case was settled for $17,000. Knee offered a long rebuttal of this case, claiming that the customer approved all transactions and understood everything. After a verbal complaint, the firm quickly settled the dispute without any investigation.
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