Samuel Ray Head of Seneca, South Carolina, a stockbroker formerly registered with Voya Financial Advisors Inc., is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $60,000.00 in damages based upon allegations of unsuitable trading by Head relating to a closed-end fund while Head was associated with Voya Financial Advisors. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-02867 (February 23, 2022). The complaint alleges that the investments were not consistent with the customer’s goal of principal preservation.
Head has been identified in six more customer initiated investment related disputes regarding accusations of his conduct while employed by securities broker-dealers, including ING Financial Partners, Voya Financial Advisors, and Washington Square Securities. FINRA Public Disclosure shows that a customer filed an investment-related complaint concerning Head’s conduct in which the customer requested $18,561.53 in damages founded on allegations of an unsuitable subaccount given the customer’s objectives for investing and their tolerance for risk during the time that Head was registered with Washington Square Securities.
Head is also identified in a customer initiated investment related FINRA securities arbitration claim which was settled to resolve accusations of investments conflicting with the customer’s risk tolerance. The complaint alleges that Head made unauthorized trades in the customer’s ING account.
Another customer initiated investment related FINRA securities arbitration claim involving Head’s activities was settled for $45,000.00 in damages based upon allegations of breach of contract and negligence relating to a variable annuity. The claim alleges that the customer’s Hartford variable annuity contract was not liquidated according to the customer’s instructions. The claim also contains accusations of breach of fiduciary duty resulting in damages.
Head is also the subject of a customer initiated investment related written complaint which was resolved for $55,542.52 in damages, founded on allegations of the customer’s instructions being disregarded by Head relating to the allocation of funds in a variable annuity when Head was employed by ING Financial Partners Inc.
Head is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $85,000.00 in damages supported by accusations of unsuitable investments, including a business development company (BDC), given the customer’s risk tolerance and investment objectives while Head was associated with Voya Financial Advisors. FINRA Arbitration No. 20-04082 (January 5, 2021).
On December 14, 2021, another customer initiated investment related FINRA securities arbitration claim regarding Head’s conduct was settled for $14,999.00 in damages based upon allegations of Head selling unsuitable investments for the customer’s Voya Financial Advisors account. FINRA Arbitration No. 20-03471. According to the arbitration claim, the customer’s investments in real estate securities and closed-end funds were illiquid and long-term, which the customer wanted to avoid.
Head was registered with Voya Financial Advisors as a stockbroker between June 6, 1997, and June 11, 2020, and as an investment adviser representative between September 24, 1998, and June 11, 2020. Since June 8, 2020, Head has been registered with Ameriprise Financial Services as a stockbroker and investment adviser representative.