Michael Severance, formerly with Voya Financial Advisors and National Planning Corp., Barred from Securities Industry
Have you lost money with financial advisor Michael Severance of Edina, Minnesota? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Michael R. Severance. FINRA barred Severance from the securities industry after he failed to respond to a FINRA investigation. FINRA was investigating Severance for allegations that he was alleged to have charged a customer for bill-paying services and received a gift in excess of $100.
Michael Severance was a financial advisor and registered representative of Voya Financial Advisors from 1981 to April 2016. He was also affiliated with National Planning Corp. from April 2016 to November 2017, and with LPL Financial from November 2017 to January 2019. He worked at a branch office in Edina, Minnesota.
Brokerage firms like Voya Financial Advisors have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Phoenix, Arizona; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Minnesota. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Voya Financial Advisors, LPL Financial, and National Planning Corp.
Click to view: Severance, Michael FINRA AWC
Click to view: Severance, Michael BrokerCheck 11.26.19