Crosson has been the subject of several customer disputes that allege unsuitability and misrepresentation
Lincoln Financial Services broker James Crosson (CRD#1300425) is the subject of several recent customer disputes alleging unsuitability and misrepresentation while employed with Voya Financial Advisors of Middletown, RI from 2015–2019.
According to Crosson’s FINRA record, he has 34 years of experience with five firms, including: Lincoln Financial Securities of Middletown, RI (2019-present); Voya Financial Advisors of Middletown, RI (2015–2019); Investors Capital Corp. of Lynnfield, MA (2009–2015); and Linsco/Private Ledger Corp. of Fall River, MA (1991–2009).
Per Crosson’s FINRA record, he was discharged from Voya Financial following allegations that he violated firm policy by discussing one customer’s complaint with another customer.
Per FINRA’s brokercheck report in July 2019, several clients alleged that, while with Voya Financial, Crosson misrepresented the risks associated with purchasing Castle Brands stock, and that they were misled regarding the amount of stock purchased, alleging approximately $40,000 in damages. The complaint is pending.
Crosson’s FINRA brokercheck report also states in part that another client came forward, also in July 2019, alleging that the risks of investing in Castle Brands stock while Crosson was with Voya Financial were misrepresented and the amount invested in the stock was excessive. The client alleged $85,000 in damages. The complaint is pending.
In February 2019, a customer alleged that Crosson had made unsuitable investment recommendations in 2014 while with Voya Financial, with requested damages of $36,560. The claim was settled for the requested amount.
In 2009, while Crosson was with LPL Financial, a customer alleged that Crosson neglected to make her aware of surrender charges on a mutual fund investment, alleging damages over $5,000. That dispute was withdrawn.
Allegations in a BrokerCheck report are allegations made by clients, or by the brokerage firm, and
Are to be considered as just allegations, not facts, until such time as a FINRA arbitration panel or a FINRA disciplinary determination has been reached.
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive violated FINRA rules, contact the Sonn Law Group today for a free review of your claim.