Former Voya Financial Advisors Broker, James Crosson, Has Three Disclosed Customer Complaints Regarding The Sale Of Castle Brands Stock
James Crosson (CRD # 1300425) is currently a Financial Advisor at Lincoln Financial Securities Corp. in Middletown, RI. James Crosson has been in the securities industry since 1984 and previously worked at Voya Financial Advisors and Investors Capital Corp.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on April 4, 2019, Voya Financial Advisors terminated James Crosson for allegedly discussing a customer complaint filed by one customer with another customer, who was unrelated to the complaint.
In addition, since 2019, James Crosson has three customer complaints relating to the sale of Castle Brands stock, including the following:
- February 2019—”Customer verbally complained that the recommendation and purchase of Castle Brands stock with occurred on October 2, 2014 was unsuitable.” The matter was settled for $35,563.
- July 2019—”Clients allege that the risks associated with purchasing Castle Brands stock was misrepresented and that they were misled regarding the amount of stock purchased.” Alleged damages are $39,703 and the matter remains pending.
- Julyu 2019—”Clients allege that the risks associated with purchasing Castle Brands stock was misrepresented and the amount invested in the stock was excessive.” The matter was settled for $11,196.
For a copy of James Crosson’s CRD, click https://brokercheck.finra.org/individual/summary/1300425#disclosuresSection
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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