Ronald Jason Payne of Greenville South Carolina a stockbroker formerly registered with Voya Financial Advisors Inc. has been discharged by the firm on November 16, 2018 based upon accusations that (1) Payne neglected to abide by Voya Financial Advisors Inc. know your customer rules when establishing new customer accounts at the firm and (2) Payne did not conform to the Voya Financial Advisors Inc. policies by procuring signed blank documents from customers to effect wire transfers to or from their accounts.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Payne is referenced in four customer initiated investment related disputes pertaining to allegations of his improper conduct during the period that he was associated with UVEST Financial Services Group Inc., Invest Financial Corporation and Wells Fargo Financial Network LLC. Specifically, on May 13, 2003, a customer initiated investment related complaint concerning Payne’s conduct was settled for $6,838.44 in damages supported by accusations that the customer was not provided adequate information regarding the callability of notes that the customer purchased.
On January 20, 2009, another customer filed an investment related complaint involving Payne’s conduct where the customer requested $6,550.05 in damages founded on allegations that the customer was placed into a variable annuity that was in no way suitable for the customer. Thereafter, a customer initiated investment related civil action was brought in the Court of Common Pleas of Greenville County, South Carolina, involving Payne’s conduct that was resolved for $60,000.00 in damages based upon accusations that Payne negligently transacted in the customer’s account and breached a fiduciary duty to the customer in reference to a variable annuity sold to the customer. Civil Action No. 2011-CP-23-0816 (July 19, 2011).
Moreover, on June 8, 2012, a customer filed an investment related complaint regarding Payne’s activities in which the customer sought damages estimated to exceed $5,000.00 supported by allegations that the customer had been defrauded in regard to investments held in the customer’s investment portfolio.
Since November 21, 2018, Payne has been employed by Next Financial Group, Inc.
