Haselkorn & Thibaut, P. A., is investigating potential sales practice and supervision issues related to former financial advisor, Alexander (Alex) James who was previously employed with Allstate Financial Services (2017-2020) in West Palm Beach, FL and with Voya Financial Advisors (2012 – 2017) in Palm Beach Gardens, FL.
The attorneys of Haselkorn & Thibaut, P.A. at investmentfraudlawyers.com have been investigating potential sales practice and supervision issues relating to Alexander James as well as other current and former financial advisors with Allstate Financial Services and Voya Financial Advisors. The experienced team at Haselkorn & Thibaut, P.A. represent investors nationwide in pursuing private Financial Industry Regulatory Authority (FINRA) customer disputes and helping clients recover their investment losses.
According to FINRA Brokercheck, Alexander James is not currently registered with a FINRA broker-dealer firm. His FINRA CRD #5630825. It appears that he has two separate disclosures appearing on his FINRA Brokercheck report. One is a customer dispute alleging Mr. James solicited outside investments away from the firm, and further alleged unsuitable recommendations and misappropriation.
Without admitting or denying allegations made by FINRA regulators alleging outside business activities without prior written notice, Mr. James introduced customers to potential investments. Mr. James entered an Acceptance, waiver, and Consent (AWC) with FINRA which included an agreement to a $10,000.00 fine and a one-year suspension.
Financial advisors and the firms they work for that supervise their activities have a responsibility to treat investors fairly which includes making only suitable investment recommendations after conducting due diligence. Due diligence includes an independent investigation by the firm into the investment’s properties including its benefits, risks, tax consequences, issuer, history, and other relevant factors. Appropriate due diligence would identify an alternative investment’s high costs, illiquidity, and conflicts of interest.