Customer Accuses LPL Financial Of Unauthorized Trading

Mediation - Customer Accuses LPL Financial Of Unauthorized Trading

James Ernest Joly, of East Greenwich, Rhode Island, a stockbroker formerly employed with LPL Financial, LLC, is the subject of a customer initiated investment related written complaint on September 22, 2017, in which the customer sought damages estimated at more than $5,000.00 supported by allegations that unauthorized and unsuitable non-traded real estate investment trust and mutual fund transactions were effected in the customer’s account.

Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that on August 14, 2013, a customer filed an investment related written complaint involving Joly’s conduct, where the customer requested at least $5,000.00 in damages based upon allegations that inappropriate real estate investment trust transactions had been effected in the customer’s investment portfolio.

Subsequently, a customer initiated investment related arbitration claim in reference to Joly’s conduct was settled for $87,500.00 in damages founded on accusations of suitability relating to business development company, real estate investment trust, tenant-in-common and high yield fund transactions placed in the customer’s account. FINRA Arbitration No. 12-02676 (Dec. 17, 2013).

Joly’s registration with LPL Financial LLC was terminated on June 12, 2017. He has been employed with VOYA Financial Advisors, Inc. since August 30, 2017.

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