James Ernest Joly (also known as Jim Joly) of East Greenwich Rhode Island a stockbroker formerly registered with Voya Financial Advisors Inc. has been discharged on July 10, 2018 founded on accusations that (1) Joly preserved Voya Financial Advisors customer account documents that were signed but otherwise blank so that he could effect transactions in customer accounts and (2) Joly participated in outside business activities contrary to Voya Financial Advisors’ policies.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Joly has been identified in four customer initiated investment related disputes that concern allegations of his misconduct when he was employed by securities broker dealers including LPL Financial and Cantella Co. Inc. Specifically, a customer initiated investment related complaint concerning Joly’s conduct was resolved for $87,500.00 in damages based upon accusations that during the time that Joly was associated with LPL Financial, high yield fund, business development company, real estate investment trust, and tenant-in-common transactions failed to be suitable for the customer.
Another customer filed an investment related complaint in regard to Joly’s conduct where the customer requested damages estimated to exceed $5,000.00 supported by allegations that inappropriate real estate investment trust products had been sold to the customer when Joly was employed by LPL Financial. On September 22, 2017, a customer filed an investment related complaint involving Joly’s activities in which the customer sought damages estimated to exceed $5,000.00 founded on accusations that unauthorized non-traded real estate investment trust transactions and mutual fund trades were executed in the customer’s account, and those real estate security and mutual fund trades failed to be suitable for the customer.
Joly is also the subject of a customer initiated investment related written complaint on June 11, 2019 where the customer requested $84,687.00 in damages based upon allegations that while Joly was associated with LPL Financial, he facilitated securities transactions that were unsuitable for the customer which caused the customer to incur unwarranted investment losses.
Joly has been employed by Cantella Co. Inc. since July 28, 2018.
