{"id":19426,"date":"2021-01-04T14:15:15","date_gmt":"2021-01-04T20:15:15","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=19426"},"modified":"2022-03-23T13:20:47","modified_gmt":"2022-03-23T18:20:47","slug":"voya-financial-advisors-fined-23m","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/voya-financial-advisors-fined-23m\/","title":{"rendered":"SEC Sanctions Voya Financial Advisors $23M Over Conflicts That Cost Customers"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">Broker-Dealer\u2019s RIA Accused of Violating Fiduciary Duty\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The US Securities and Exchange Commission (SEC) and Voya Financial Advisors have arrived at a $22.9M settlement, including $13.9M in restitution and interest to customers that were harmed. Voya Financial Advisors is an independent brokerage firm that is run as both a broker-dealer and a registered investment advisor (RIA).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a brokerage firm, Voya Financial Advisors charges commissions.\u00a0 As an RIA, it charges fees. The regulator contends that conflicts at Voya\u2019s registered investment advisor arm caused the firm to violate and <\/span><a href=\"https:\/\/www.investorlawyers.com\/breach-of-fiduciary-duty.html\"><span style=\"font-weight: 400;\">breach its fiduciary obligation<\/span><\/a><span style=\"font-weight: 400;\"> to advisory clients. Voya\u2019s RIA oversees nearly $16B in assets for customers.\u00a0<\/span><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/voya-financial-advisors-fined-23m\/\"  title=\"Continue Reading SEC Sanctions Voya Financial Advisors $23M Over Conflicts That Cost Customers\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Broker-Dealer\u2019s RIA Accused of Violating Fiduciary Duty\u00a0 The US Securities and Exchange Commission (SEC) and Voya Financial Advisors have arrived at a $22.9M settlement, including $13.9M in restitution and interest to customers that were harmed. Voya Financial Advisors is an independent brokerage firm that is run as both a broker-dealer and a registered investment advisor [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":19427,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3949,3741],"tags":[4402,2778,4194],"class_list":["post-19426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breach-of-fiduciary-duty","category-securities-fraud","tag-breach-of-fiduciary-duty","tag-voya-financial","tag-voya-financial-advisors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Fines Voya Financial Advisors $23M Over Customer Conflicts | Investor Lawyers<\/title>\n<meta name=\"description\" content=\"Voya Financial Advisors have been sanctioned and fined $23M by the SEC for breaching its fiduciary duties which resulted in investor losses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/voya-financial-advisors-fined-23m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Fines Voya Financial Advisors $23M Over Customer Conflicts | Investor Lawyers\" \/>\n<meta name=\"twitter:description\" content=\"Voya Financial Advisors have been sanctioned and fined $23M by the SEC for breaching its fiduciary duties which resulted in investor losses.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2021\/01\/pexels-sora-shimazaki-5668473-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Fines Voya Financial Advisors $23M Over Customer Conflicts | Investor Lawyers","description":"Voya Financial Advisors have been sanctioned and fined $23M by the SEC for breaching its fiduciary duties which resulted in investor losses.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/voya-financial-advisors-fined-23m\/","twitter_card":"summary_large_image","twitter_title":"SEC Fines Voya Financial Advisors $23M Over Customer Conflicts | Investor Lawyers","twitter_description":"Voya Financial Advisors have been sanctioned and fined $23M by the SEC for breaching its fiduciary duties which resulted in investor losses.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2021\/01\/pexels-sora-shimazaki-5668473-1.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; 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