Advisor Alert: Our Attorneys Are Investigating James Ernest Joly For Investment Fraud
Did You Lose Money Because of Jim Joly of Cambridge Investment Research?
Filed: October 25, 2023
Jim Joly (also known as James Ernest Joly) currently has two (2) pending judgment/lien events. Overall, he has been the subject of (2) judgment/lien events, one (1) termination event, and five (5) 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 James Ernest Joly.
Who Is James Ernest Joly of Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc.?
- Advisor Name: James Ernest Joly
- Aliases: Jim Joly
- CRD: 2193463
- Location: East Greenwich, Rhode Island
- Current Employer: Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc.
- Previous Firms: Cantella & Co., Inc. and Voya Financial Advisors, Inc.
- Number of Known Customer Complaints: 5
- Number of Known Termination Events: 1
- Number of Known Judgment/Lien Events: 2
- Can James Joly Be Sued: Yes, in Private Arbitration
- Can James Joly’s Employers Be Sued For Failing to Supervise His Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $800,000
- Highest Settlement: $87,500
If you have suffered investment losses by Jim Joly, 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 Jim Joly For Broker Misconduct
As of this publication date, James Joly has been the subject of 2, judgment/lien events, 1 termination event, and 5 customer disputes. Let’s review them below.
In February 2023, James Joly was the subject of a civil judgment or lien in the amount of $58,339. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor. As of this publication date, this event remains pending.
In February 2023, James Joly was the subject of a civil judgment or lien in the amount of $114,068. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor. As of this publication date, this event remains pending.
In April 2020, a complaint was filed against or in reference to James Joly by a customer of Cantella & Co., Inc. alleging that Mr. Joly failed to consult with the client’s estate attorney and transferred assets to an annuity that resulted in tax implications for their trust. Per the customer, he/she lost over $13,000 due to Mr. Joly’s actions.
In June 2019, a complaint was filed against or in reference to James Joly by a customer of LPL Financial LLC with allegations of suitability concerns resulting in a loss of over $5,000 on May 16, 2019. Per the customer, he/she lost over $84,687 due to Mr. Joly’s actions.
In May 2019, a complaint was filed against or in reference to James Joly by a customer of Cantella & Co., Inc. with allegations of suitability concerns resulting in a loss of over $5,000 on May 16, 2019. Per the customer, he/she lost over $84,687 due to Mr. Joly’s actions.
In July 2018, Voya Financial Advisors, Inc. terminated James Joly for maintaining blank client-signed documents and engaging in an unapproved outside business activity in violation of the Firm’s policies.
In September 2017, a complaint was filed against or in reference to James Joly by a customer of LPL Financial LLC alleging that Mr. Joly was involved in unsuitable investments and unauthorized transactions.
In August 2013, a complaint was filed against or in reference to James Joly by a customer of LPL Financial LLC alleging that Mr. Joly was involved in unsuitable investments in REITs.
In August 2012, a FINRA arbitration was filed against or in reference to James Joly by multiple customers of LPL Financial alleging that the customers’ 1031 Tenant-In-Common Investment, Reit Investments, High Yield Fund and Business Development Company Investment made in or about 2005-2006 were unsuitable. Per the customers, they lost over $800,000 due to Mr. Joly’s actions. On December 17, 2013, Mr. Joly settled the claim for $87,500 and some or all of this amount may have been paid by Mr. Joly’s employer and/or insurance carrier.
How To File A Claim Against Jim Joly of Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc. (previously with Cantella & Co., Inc. and Voya Financial Advisors, Inc.) To Get Your Money Back.
If you have questions about James Joly, Cambridge Investment Research, Inc., Cambridge Investment Research Advisors, Inc., Cantella & Co., Inc., 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.