Barred Broker Jim Flynn Involved In Investor Disputes

Droves of investors are filing disputes about securities broker James “Jim” Flynn (CRD#: 3082615, Greenville, South Carolina). Notably, the securities broker has a whopping 64 disclosures on his record via Financial industry Regulatory Authority (“FINRA”), nearly all of which are investor disputes. The securities broker, who worked for IFS Securities (2017 to 2018) and Voya Financial Advisors (2013 to 2017), allegedly deceived investors. Here’s more on the disputes which suggest that Flynn sold unsuitable and misrepresented alternative investments including REITs.

Voya Client Indicates Jim Flynn Sold Risky, Illiquid Alternative Investments

Notably, a client of Voya Financial Advisors brought a lawsuit about Flynn in July 2020. Specifically, the client indicated that Flynn sold unsuitable alternative investments. It appears that Flynn asked the client purchase a variable annuity, a real estate security, and a unit investment trust. However, none of those investments allegedly fit with the client’s investment objectives. For this reason, the client alleged $5,000,000 in damages. To date, this complaint is unresolved.

Client Of Voya Indicates That Flynn’s Investment Strategy Was Bad, Caused Losses

Evidently, a second Voya Financial Advisors client took aim at Flynn in a July 2020 complaint. It appears that Flynn recommended an investment strategy to the client. Apparently, this included causing the client to invest in securities which paid Flynn large commissions. It also seemingly involved clients having to put money into investments without a way to liquidate them. Finally, Flynn’s strategy allegedly went against the client’s objectives, the claim states. Because of this, the client asks for $50,000 to $100,000 in compensation in this ongoing matter.

Jim Flynn Seemingly Used False Information About Voya Financial Client

In addition, Voya Financial received a complaint from a client in June 2020 which involved Flynn. Notably, the client alleged that Flynn placed fictitious information on the client’s account documents. It is possible that Flynn altered documents or made them up entirely. In either event, the client demanded $275,000 in damages.

FINRA Bars Flynn In All Capacities

Also, in June 2018, FINRA took away Flynn’s ability to be a broker for any FINRA firm. This includes all major firms registered with FINRA in the United States. Apparently, the sanctions came as a result of the securities broker failing to respond to a “request for information” made by the financial industry watchdog in 2018. Prior to the bar, FINRA suspended Flynn and gave him more time to cooperate, but he did not comply.

Earlier that year, IFS Securities told FINRA that it discharged Flynn for allegedly trading ahead of authorization. Further, Voya Financial Advisors discharged him in 2017 for allegedly providing it misleading information when it investigated him.

FINRA BrokerCheck indicates that Jim Flynn denies all allegations of misconduct.

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