Former broker Ashley Woodard of South Carolina has multiple customer disputes disclosures on the allegations of the disregard of clients’ interests and unsuitable investment recommendations, among others, according to an investigation by attorney Alan Rosca.
Securities attorney Alan Rosca, of Rosca Scarlato LLC law firm is investigating conduct related to the customer disputes involving Ashley Charles Woodard. Concerned investors are encouraged to contact attorney Rosca toll free at 888-998-0530, via email at arosca@rscounsel.law, or by leaving a message using a contact form on this page.
Ashley C. Woodard was most recently registered as a broker with NYLife Securities LLC. He was registered with the firm between December 2017 and October 2020. Between February 2018 and October 2020, Ashley Woodard was also registered with Eagle Strategies LLC as an investment adviser.
Prior to joining NYLife Securities, Woodard was briefly registered as a broker with IFS Securities in Greenvile, South Carolina, between February and November 2017. During the period between June 2013 and February 2017, Ashley Woodard was employed at VOYA Financial Advisors. Reportedly, Woodard was in the employment of VOYA when he allegedly carried out the actions leading to the multiple customer disputes.
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Ashley Charles Woodard Has Been the Subject of Multiple Customer Disputes
Securties lawyer Alan Rosca, reviewed publicly available information and found that Ashley Woodard has been named defendant in nine customer disputes filed between March 2019 and July 2020, as reported on his FINRA Brokercheck page.
According to the brokercheck report, on July 2, 2020, two separate and consecutive cases involving Woodard were filed with FINRA under case numbers 20-02110 and 20-02111. Both cases allege alternative, illiquid, complex and unsuitable investments involving real estate securities and unit investment trusts, while former broker Ashley Woodard was registered with Voya Financial Advisors. The customers in each case are seeking to recover $5,000,000 in alleged damages.
According to his brokercheck page, former broker Ashley Charles Woodard has been involved in seven customer disputes that concluded in settlement.
A customer dispute disclosed in July 2020 alleged hundreds of thousands of dollars of claimants assets were placed in multiple illiquid, risky and speculative private placements. The client in this dispute was seeking to recover $50,000 in damagesbut the dispute was settled for $152,500.
In November, 2019, a Ashley Woodard customer filed a dispute on the allegation of recommending unsuitable and illiquid alternative investments. The client initially sought to recover between $100,000.00 and $500,000 in damages but the dispute was eventually settled for cumulated amount of $380,000.
In another customer dispute initiated in October 2019, the client was seeking to recover between $100,000 and $500,000 in damages and the dispute was settled for $575,000. In this dispute, the client was alleging various alternative, illiquid and unsuitable securities.
Ashley Woodard was also subject of a dispute filed on similar allegations in April 2019. The client sought to recover between $1,000,000 and $5,000,000 in damages on the allegations of illiquidity and unsuitability of the investment recommendations. The dispute was eventually settled in August 2020 for $750,000.
In another dispute that was reportedly filed on the same day, the client made similar allegations seeking to recover up to $5,000,000 in damages, but the dispute was eventually settled in February 2021 for $95,000.
In April 2019, a customer filed a dispute alleging misrepresentation and unsuitability in connection to alternative investments that were allegedly unsuitable. The customers alleged damages between $100,000 and $500,000, but the dispute concluded in December 2019 in a settlement to the tune of $107,500.
The earliest dispute reported on Woodard‘s brokercheck was filed in March 2019. Customer alleged unsuitable, high risk and illiquid investments. This dispute was reportedly settled in February 2020 for $37,500.
According to a recent update, in February 2021 a customer dispute alleged the customers were misled to purchase a variable annuity. The alleged damages were unspecified but determined by the firm to exceed $5,000. One month later this dispute was reportedly closed.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Securities Lawyer Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related Ashley Woodard’s multiple customer dispute disclosures on the allegation of unsuitability of investment recommendations.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors concerned about investments with former broker Ashley Woodard may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.