In the securities arbitration complaint, our clients our clients allege they “received unsuitable investment advice and securities recommendations” from Flynn, who was our client’s financial advisor. Breach of fiduciary duty, negligence, and breach of contract are also claimed.
The claim, which requests up to $500,000 in compensatory damages, is made against Voya because they are liable for failing to supervise Flynn’s conduct while he was working for them.
The FINRA arbitration claim states that our clients, a husband and wife, are financially unsophisticated retired teachers. They sought investment advice to safely grow their retirement assets and “enjoy a comfortable and stress-free retirement.”
Claimants allege they trusted Flynn to give them good financial advice and recommendations in line with their risk tolerance and objectives. Instead, he sold them high-commission, speculative, illiquid products, including REITs such as Business Development Corporation of America and Colony Capital, as well as variable annuities, which enriched him at their expense. The investments lost our clients a significant amount of money.
FINRA Bars James T. Flynn
Unfortunately, the clients represented in this case are not the only people harmed by Flynn. Before FINRA permanently barred him, he was a rogue broker who caused serious damage to many clients. Silver Law Group has filed previous securities arbitration claims relating to Flynn and Voya.
Flynn’s publicly available BrokerCheck report lists 33 disclosures, including multiple customer disputes for false and misleading representations and unsuitable investment recommendations, as well as employment separations.
Contact Our Firm if You’ve Invested with James T. Flynn or Voya Financial Advisors
If you have invested with James Flynn and or Voya Financial Advisors, you may have a claim to recover your losses. Contact our firm today. We take most cases on a contingency fee basis, which means it won’t cost you anything out of pocket to have us work on your case.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide in securities investment fraud cases. Please contact Scott Silver of the Silver Law Group for a free consultation at firstname.lastname@example.org or toll free at (800) 975-4345.