Former Voya Financial Advisors, Inc. broker Ashley Woodard (CRD# 4703144) faces numerous customer complaints and recently settled multi-million dollar cases.
He was registered with NYLife Securities LLC in Greenville, South Carolina, from 2017 to 2020. Previously, he was registered with IFS Securities in Greenville, South Carolina, from May to November 2017, and with Voya Financial Advisors, Inc. in Greenville, South Carolina, from 2013 to 2017.
Ashley Woodard Customer Complaints
He has been the subject of 18 customer complaints between 2019 and 2020, one of which was withdrawn and two were closed without action, according to his CRD report:
March 2024. “Claimants allege the Representative recommended illiquid, complex and unsuitable alternative investments. Further, claimant alleges that representative altered forms and made materially false and misleading statements regarding the investments.” The customer is seeking $499,999 in damages.
February 2024. “Claimants allege that Representative recommended investments in illiquid, risky, and speculative private placements that were not suitable for Claimants. Claimants further allege that Representative misrepresented the risks of the investments and altered forms to falsify Claimants’ financial resources.” The customer is seeking $999,999 in damages.
Apri 2021. “Allegations include recommendations and sales to claimants of risky, unsuitable, illiquid alternative investments.” The customer sought $500,000 in damages, and the case was settled for $1,200,000.01.
March 2021. “Allegations include recommendations and sales to claimants of risky, unsuitable, illiquid alternative investments.” The customer sought $500,000 in damages, and the case was settled for $1,226,533.57. The complaint, regarding real estate security losses, took place while he was registered with Voya Financial Advisors, Inc.
March 2021. “Allegations include recommendations and sales to claimants of risky, unsuitable, illiquid alternative investments.” The customer sought $500,000 in damages, and the case was settled for $1,794,691.60. The complaint, regarding real estate security losses, took place while he was registered with Voya Financial Advisors, Inc.
March 2021. “Allegations include client was recommended a risky, unsuitable, illiquid alternative investment.” The customer sought $50,000 in damages, and the case was settled for $25,000. The complaint took place while he was registered with Voya Financial Advisors, Inc. and it was regarding real estate security losses.
July 2020. “Statement of Claim allegations include risky, unsuitable, illiquid alternative investments were recommended to claimants.” The customer sought $5,000,000 in damages, and the case was settled for $5,050,000. The complaint took place while he was registered with Voya Financial Advisors, Inc., and it was regarding real estate, variable annuities, and unit investment trusts (UITs) investment losses.
July 2020. “Statement of Claim allegations include risky, unsuitable, illiquid alternative investments were recommended to claimants.” The customer sought $5,000,000 in damages, and the case was settled for $3,500,000. The complaint took place while he was registered with Voya Financial Advisors, Inc., and it was regarding real estate, variable annuities, and UIT investment losses.
July 2020. “The statement of claim alleges hundreds of thousands of dollars of claimants assets were placed in multiple illiquid, risky and speculative private placements.” The customer sought $50,000 in damages, and the case was settled for $152,500. The complaint took place while he was registered with Voya Financial Advisors, Inc., and it was regarding real estate investment losses.
November 2019. “Allegations include recommendations were made for unsuitable and illiquid securities.” The customer sought $100,000.01 in damages, and the case was settled for $80,000. The complaint occurred while he was registered with Voya Financial Advisors, Inc. and Capital Investment Group, Inc. It was regarding real estate securities and direct investment losses.
May 2019. “Claimants allege misrepresentation and suitability related to recommended alternative/illiquid securities.” The customer sought $100,000 in damages, and the case was settled for $107,500. The complaint regarding real estate securities occurred while Woodard was registered with Voya Financial Advisors, Inc. and IFS Securities.
May 2019. “Claimant alleges that she was misled regarding the nature and risks of multiple illiquid private placement investments which were inappropriate for her financial needs. Dates: 2011 to Present.” The customer sought $1 million in damages, and the case was settled for $95,000. The complaint occurred while Woodard was registered with Voya Financial Advisors, Inc., Capital Investment Group, Inc., and IFS Securities regarding direct investments and real estate securities.
May 2019. “Claimant alleges that unsuitable and illiquid securities were recommended.” The customer sought $1 million in damages, and the case was settled for $750,000. The complaint occurred while Woodard was registered with Voya Financial Advisors, Inc., Capital Investment Group, Inc., and IFS Securities and was concerned with direct investments and real estate securities.
March 2019. “Claimant alleges that in or about January 2016 and February 2017, she was advised to liquidate her entire portfolio and invest in unsuitable, high risk, high fee, and illiquid investments.” The case was settled for $37,500. The complaint occurred while Woodard was registered with Voya Financial Advisors, Inc. and IFS Securities, which concerned variable annuities, direct investments, and real estate securities.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Voya Financial Advisors, Inc., Capital Investment Group, Inc., and IFS Securities may be liable for investment or other losses suffered by Ashley Woodard’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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