| Read Time: 3 minutes |



Jim Flynn of Flynn Wealth Management Has 58 Customer Complaints For Alleged Broker Misconduct In the Past 5 Years

Who is James Flynn Formerly With IFS Securities, Voya Financial Advisors And Capital Investment Group?

Jim Flynn (CRD# 3082615), owner of Flynn Insurance Group and Flynn Wealth Management Group in Greenville, South Carolina, is a subject of one of our many securities industry sales abuse investigations. He was last registered in the securities industry as an associate of IFS Securities. In February 2018 Mr. Flynn was terminated for allegedly trading in a client’s account before he was given authorization. Prior to IFS Securities, he was registered with Voya Financial Advisors and Capital Investment Group. Mr. Flynn was terminated by Voya Financial Advisors for allegedly providing misleading information during an internal customer complaint investigation. In September 2018, he was permanently barred from the securities industry for failure to respond to a FINRA 8210 investigation request for information.

IFS Securities, Voya Financial Advisors And Capital Investment Group Broker Misconduct

Incredibly during his short seven year period in the securities industry, Mr. Flynn managed to accumulate at least 57 customer complaints that we know about.

Twenty six of those customer complaints were settled in favor of investors. There are currently 20 pending customer complaints filed against Mr. Flynn’s former employers for his alleged misconduct. The remaining eleven complaints were denied by his former employers and it appears no further action was taken by the customers.

Allegations Against James Flynn

A sample of the allegations made in the FINRA reported arbitration claim settlements, and pending complaints are as follows:

  • The Statement of Claim allegations include the claim that representative sold a portfolio of high commission, illiquid and speculative financial products to claimants.
  • Allegations include unsuitable investments were sold to claimants who are unsophisticated investors, that the risks were not aligned with their objectives, material risks were not disclosed, and the investments were over-concentrated.
  • Allegations include misrepresentation and suitability related to the alternative/illiquid securities that were recommended.
  • The allegations within the Statement of Claim are that representative sold the clients a portfolio of high commission, illiquid, and speculative investments without regard to their investment objectives and risk tolerance.
  • Customer alleges representative told him he would have access to his money if needed and was never made aware of the surrender charges and risks that came with product recommended in February 2016.
  • Statement of Claim notes representative misled claimants by making false and misleading representations and made unsuitable investment recommendations.
  • Customers allege most of their liquid net worth was invested in illiquid products recommended by representative beginning in April 2014.
  • Attorney representing customer alleges representative transferred assets from a 401K account into illiquid and unsuitable investments without proper diversification in August 2015.
  • Customer alleges the recommendation for the alternative investment product purchased in June 2014 in his IRA and joint account was not suitable for his goals and objectives.
  • Customer alleges REIT purchased in June 2015 was not suitable as he was not aware it wasn’t traded or of risks involved.
  • Customers questioned suitability of REIT investments in the replacement of a variable annuity policy.
  • Client alleges that the REIT product was unsuitable for him.  Given his net worth and investment experience and that he was unaware that he would not receive back the full value of the REIT if he liquidated it early during the tender period.
  • Client states that representative misrepresented risks a variable annuity and sold the contract without explaining the product.
  • Allegations include concentration of assets, surrender charges and then if it riders were not discussed, and lack of diversification.  The variable annuity contracts were issued in September 2016.

James Flynn Red Flags & Your Rights As An Investor

Of course, Mr. Flynn did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by 57 customers are red flags which should put all former customers of Mr. Flynn at IFS Securities and Voya Financial Advisors on alert to review carefully the activity and performance of their accounts and question whether Mr. Flynn has engaged in stockbroker misconduct that caused their investment losses. The large number of customer complaints also raises questions about IFS Securities and Voya Financial Advisors’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At IFS Securities, Voya Financial Advisors And Capital Investment Group

If you have questions about IFS Securities and Voya Financial Advisors and/or Mr. Flynn and the management or performance of your accounts contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

Author Photo

Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $160 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

Rate this Post

1 Star2 Stars3 Stars4 Stars5 Stars