Advisor Alert: Our Attorneys Are Investigating Danny Young For Investment Fraud
Did You Lose Money Because of Danny Young of Kovack Securities (previously with Cetera Advisor Networks)?
Filed: October 20, 2023
Danny Young, or Danny Jerome Young, currently has been the subject of three (3) 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 Danny Young.
Who Is Danny Young of Kovack Securities Inc. and Kovack Advisors, Inc.?
- Advisor Name: Danny Young
- Aliases: Danny Jerome Young
- CRD: 4115155
- Location: Adel, Georgia
- Current Employer: Kovack Securities Inc. and Kovack Advisors, Inc.
- Previous Firms: Cetera Advisor Networks LLC and Voya Financial Advisors, Inc.
- Number of Known Customer Complaints: 3
- Can Danny Young Be Sued: Yes, in Private Arbitration
- Can Danny Young’s Employers Be Sued For Failing to Supervise His Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $800,000
- Highest Settlement: $250,000
If you have suffered investment losses by Danny Young, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud 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 Danny Young For Broker Misconduct
As of this publication date, Danny Young has been the subject of 3 customer disputes. Let’s review them below.
In April 2021, a FINRA arbitration was filed against or in reference to Danny Young by multiple customers of Voya Financial Advisors, Inc. alleging that Mr. Young sold them risky, high-fee investments in 2015 and 2016 which were unsuitable for their investment needs and inconsistent with their investor profiles. Per the customers, they lost over $800,000 due to Mr. Young’s actions. On July 7, 2022, Mr. Young settled the claim for $250,000, and some or all of this amount may have been paid by Mr. Young’s employer and/or insurance carrier.
In November 2008, a complaint was filed against or in reference to Danny Young by a customer of ING Financial Partners, Inc. alleging that Mr. Young never told the client that, in order for him to receive the full amount of his contract, he would need to annuitize his variable annuity and take payments over a 20- to 30-yr period, or that he would need to wait for the surrender period to end. In addition, client surrendered contract after talking to an insurance agent named Paul McCarthy, incurring CDSC (contingent deferred sales charge) in the process. Per the customer, he lost over $7,195.62 due to Mr. Young’s actions.
In June 2007, a complaint was filed against or in reference to Danny Young by customers of ING Financial Partners, Inc. The clients complained to Midland Ins. regarding confusion over the margins and caps of equity indexed annuities sold to them by Mr. Young in June of 2006. Clients also allege that Mr. Young sold them products with surrender periods that were too long for their respective ages.
How To File A Claim Against Danny Young of Kovack Securities Inc. and Kovack Advisors, Inc. (previously with Cetera Advisor Networks LLC and Voya Financial Advisors, Inc.) To Get Your Money Back.
If you have questions about Danny Young, Kovack Securities Inc., Kovack Advisors, Inc., Cetera Advisor Networks LLC, Voya Financial Advisors, 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.