Joel Flannigan, previously with NYLife Securities, Barred by FINRA
Have you lost money with financial advisor Joel Flannigan? We are looking into allegations made about Joel V. Flannigan from Fort Wayne, Indiana. FINRA (the Financial Industry Regulatory Authority) barred him from the securities industry. FINRA alleged that Flannigan failed to respond to its investigation. FINRA was investigating Flannigan after he was terminated by NYLife Securities for not disclosing a potential outside business activity.
Flannigan has been alleged to have sold investments in Woodbridge Mortgage Investment Fund. Woodbridge filed for bankruptcy, and investors have suffered significant losses in Woodbridge. Flannigan was also alleged to have sold investments in American Alternative Investments, Future Income Payments (FIP), and 1 Global Capital.
Joel Flannigan was a financial advisor and registered representative of NYLife Securities from December 2010 to May 2018. He worked in branch offices in Fort Wayne, Indiana.
Brokerage firms like NYLife Securities 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; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including Indiana. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against NYLife Securities.