Advisor Alert: Our Attorneys Are Investigating Daniel Tuan Kien Loy For Investment Fraud
Did You Lose Money Because of Daniel Loy of Independent Financial Group (previously with Voya Financial Advisors)?
Filed: October 20, 2023
Daniel Tuan Kien Loy, also known as Tuan Kien Loy or Daniel Loy, currently has been the subject of one (1) termination event and four (4) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Daniel Tuan Kien Loy.
Who Is Daniel Tuan Kien Loy of Independent Financial Group, LLC?
- Advisor Name: Daniel Tuan Kien Loy
- Aliases: Tuan Kien Loy, Daniel Loy
- CRD: 3029654
- Location: Milpitas, California
- Current Employer: Independent Financial Group, LLC
- Previous Firms: Voya Financial Advisors, Inc., and Metlife Securities Inc.
- Number of Known Customer Complaints: 4
- Number of Known Termination Events: 1
- Can Daniel Loy Be Sued: Yes, in Private Arbitration
- Can Daniel Loy’s Employers Be Sued For Failing to Supervise His Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $1,500,000
- Highest Settlement: $370,000
If you have suffered investment losses by Daniel Loy, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a failure to supervise lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Daniel Loy For Broker Misconduct
As of this publication date, Daniel Loy has been the subject of 1 termination event and 4 customer disputes. Let’s review them below.
In April 2022, a FINRA arbitration was filed against or in reference to Daniel Loy by a customer of Voya Financial Advisors, Inc. alleging that Mr. Loy misrepresented alternative investment products between 2013 and 2015 by stating they would provide more diversification, were safe and suitable investments, and would receive a return of principal generally between 3 and 5 years. Per the customer, he/she lost over $1,500,000 due to Mr. Loy’s actions. On May 8, 2023, Mr. Loy settled the claim for $370,000, and some or all of this amount may have been paid by Mr. Loy’s employer and/or insurance carrier.
In September 2021, a FINRA arbitration was filed against or in reference to Daniel Loy by a customer of Voya Financial Advisors, Inc. alleging that Mr. Loy misled the client and recommended an unsuitable investment strategy in various illiquid alternative investments starting in or around 2014. Per the customer, they lost over $150,000 due to Mr. Loy’s actions. On October 11, 2022, Mr. Loy settled the claim for $75,000, and some or all of this amount may have been paid by Mr. Loy’s employer and/or insurance carrier.
In September, 2015, Voya Financial Advisors, Inc. terminated Mr. Loy for attempting to resign while on heightened supervision for using an unapproved email and failure to submit two (2) pieces of advertising for approval.
In June 2012, a claim was filed against or in reference to Daniel Loy by a customer of ING Financial Partners, Inc. alleging that Mr. Loy misled and cheated regarding the client’s REIT investment when he was informed that the interest rate had decreased from 6% to 3.6%.
In August 2004, a claim was filed against or in reference to Daniel Loy by a customer of Citicorp Investment Services alleging that Mr. Loy led the client to believe that he could withdraw his principal of $100,000 in seven years and that the investment was inappropriate based on his profile. Per the client, he lost over $19,000 due to Mr. Loy’s actions.
How To File A Claim Against Daniel Loy of Independent Financial Group, LLC (previously with Voya Financial Advisors, Inc., and Metlife Securities Inc.) To Get Your Money Back.
If you have questions about Daniel Loy, Independent Financial Group, LLC, Voya Financial Advisors, Inc., Metlife Securities Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.