James Flynn, a former registered broker with Voya Financial Advisors, has at least 10 customer complaints against him. Many of these concern alternative investments and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs). These types of investments tend to be highly illiquid and risky ones that are not suitable for all investors. A broker such as Mr. Flynn must take into account factors such as a client’s age, net worth, investment risk tolerance, and investment sophistication before recommending or selling investments. If he does not, his brokerage firm may be liable for losses on a contingency fee basis. REITs and other alternative investments like oil, energy and gas offerings, and DPPs, typically underperform other investments, and are recommended by brokers because of the high commissions they offer. Voya may be held liable for alternative investment losses in the Financial Industry Regulatory Authority (FINRA) arbitration forum.
Mr. Flynn was discharged from Voya in February 2017 after the firm accused him of providing misleading information to the firm during a complaint investigation. He was then hired by IFS, but discharged a year later after he allegedly executed unauthorized trades. James Flynn was also subject to a tax lien totaling hundreds of thousands of dollars. In April 2005, Flynn disclosed a tax lien of over $256,000. He then declared bankruptcy in April 2013.
According to his online, FINRA BrokerCheck report, James Travis Flynn was previously registered with Capital Investment Group in Greer, South Carolina from July 2011 until June 2013, Voya Financial Advisors in Greenville, South Carolina from May 2013 until February 2017, and IFS Securities in Greenville from February 2017 until February 2018. He has 11 customer complaints against him, one of which is currently pending, one financial and regulatory matter and three judgments/liens. He has been suspended from the securities industry and is not currently registered as a broker.
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