Silver Law Group has filed a FINRA arbitration claim against IFS Securities and Voya Financial Advisors, Inc., two firms that employed Greenville, South Carolina-based broker James T. Flynn (CRD# 3082615).
In the securities arbitration complaint, the Claimant alleges that she entrusted Flynn with a significant amount of money to manage while he was employed with Voya Financial Advisors and IFS Securities. According to the complaint, Flynn then proceeded to recommend significant positions in illiquid investments and non-traded REITs, including a Phillips Edison REIT and a business development corporation (BDA) called Business Development Corporation of America.
Flynn proceeded to recommend, according to the FINRA arbitration complaint, the Claimant invest a significant amount of money in these investments. Claimant alleges Flynn made these recommendations solely due to the significant fees and commissions he would earn selling these products. Due to these unsuitable recommendations and IFS Securities and Voya Financial Advisors’ failure to supervise Flynn, Claimant allegedly lost a significant amount of money.
According to Flynn’s FINRA BrokerCheck report, FINRA permanently barred Flynn in June 2018 after he failed to respond to a FINRA inquiry. The FINRA bar follows approximately 17 disclosures on Flynn’s FINRA BrokerCheck report and two employment terminations within one year.
Flynn was based out of the Greenville, South Carolina branches of IFS Securities and Voya Financial Advisors. Flynn has a total of 22 disclosures on his FINRA BrokerCheck report, including FINRA’s termination of his broker’s license.
Upon information and belief, Flynn primarily sold his customers non-traded REITs and other illiquid investments offered by issuers such as Phillips Edison and Business Development Corporation of America like the Claimant in the FINRA arbitration claim our firm filed against Voya Financial Advisors and IFS Securities.
Contact Our Firm if You’ve Invested with James T. Flynn and IFS Securities and/or Voya Financial Advisors
If you have invested with James T. Flynn and IFS Securities and/or Voya Financial Advisors, you may have a claim to recover some or all of your investment. Contact our firm today to see how we can try to recover your losses. If we don’t recover money for you, you owe us nothing.
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 ssilver@silverlaw.com or toll free at (800) 975-4345.