There are options for customers of former Voya Financial Advisors, Inc. financial advisor James Knee (CRD# 1852920) who is alleged to misappropriate customer funds. Knee has been registered with Voya Financial Advisors, Inc. in Concord, New Hampshire from 2015 to August 2016, when he was terminated regarding, “failure to cooperate in an internal investigation relating to potential receipt by the representative of a cash gift from a customer.” Previously, he was registered with Ameriprise Financial Services, in Concord, New Hampshire from 2012 to 2015.
In May 2018, FINRA barred Knee after he consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony as requested by FINRA in connection with an investigation into allegations that he misappropriated customer funds while registered with two FINRA member firms.
Knee has been the subject of five customer complaints between 2002 and 2017, three of which were denied, according to his CRD report:
- February 2017. “Customer alleges some information on a document he signed was not on the document when he signed it in January 2016 and is not an accurate representation of his financial picture.” The case was settled for $23,749.38.
- December 2015. “The client alleged the recommendation into the purchase of a royalty trust to be unsuitable.” The case was settled for $17,000.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Voya Financial Advisors, Inc. may be liable for investment or other losses suffered by Knee’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.