Ashley Charles Woodard, of Greenville, South Carolina, a stockbroker and investment adviser representative associated with Voya Financial Advisors Inc., is the subject of eighteen (18) customer initiated investment related disputes. On March 14, 2024, customers filed an investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim involving Woodard’s conduct. The customers alleged the unsuitable investment recommendation of alternative investments. Additionally, they alleged false and misleading statements by the stockbroker regarding the investments. The customers requested $499,999.00 in damages. As of October 7, 2024, this matter is pending. FINRA Arbitration No. 24-00560.
According to FINRA Public Disclosure, on February 22, 2024, another customer initiated investment related dispute was filed. The customers alleged that Woodard recommended investments in illiquid, risky, and speculative private placements that were unsuitable for them. The customers alleged that Woodard misrepresented the risks of these investments and altered forms to falsify their financial resources. The customers requested $999,999.00 in damages. This case is also pending. FINRA Arbitration No. 24-00379.
On April 7, 2021, a different customer initiated investment related dispute containing allegations that Woodward made the unsuitable investment recommendation of illiquid alternative investments resulted in a settlement. The customers had sought $500,000.00 in damages, and the matter was resolved for $1,200,000.01. FINRA Arbitration No. 21-00783.
On March 30, 2021, three separate customer initiated investment related disputes were settled. Each dispute alleged unsuitable advice about illiquid and high-risk alternative investments. The customers sought $500,000.00 in damages for each dispute. These cases were resolved through settlements of $1,794,691.60, $1,226,533.57, and $25,000.00, respectively.
On July 22, 2020, a different customer initiated investment related dispute resulted in a settlement of $5,050,000.00. The customers had alleged that Woodard recommended unsuitable investments. On February 24, 2021, an additional customer dispute involving the sale of a variable annuity in August 2019 was closed with no further action taken by the investor.
Woodard was associated with Voya Financial Advisors Inc. from June 2013 to February 2017 and with NYLIFE Securities LLC from December 2017 to October 2020.
