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David Wilkie, formerly with Voya Financial Advisors, Suspended by FINRA


you a former customer of David Wilkie, formerly with Voya Financial Advisors?  Israels & Neuman is looking into allegations made by FINRA, the Financial Industry Regulatory Authority, against David Wilkie, who worked in Mendota Heights, Minnesota.  Wilkie has been suspended by FINRA for six months and fined $10,000.

FINRA started an investigation after David Wilkie was terminated by Voya Financial Advisors.  Voya Financial Advisors terminated Wilkie after he was alleged to have entered into an arrangement with a customer, whereby Wilkie would pay 60% of the premiums on a customer’s life insurance policy.  In exchange, the customer named Wilkie as a 60% beneficiary of the life insurance policy.  The beneficiary was later changed to Wilkie’s son.  After the customer died, Wilkie’s son received $125,000 in life insurance proceeds, and then the son gave the money to Wilkie.

David Wilkie had been with Voya Financial Advisors from 1994 to March 2021 and had been in the securities industry since 1972.  He has primarily worked in Mendota Heights, Minnesota.

Since Wilkie was a representative of a FINRA member firm, Wilkie has a duty to follow FINRA rules while working with Voya Financial Advisors.  FINRA rules require that representatives must disclose any business dealings with customers to their brokerage firms.  Violations of these rules often result in suspensions or expulsions from the securities industry.

Israels & Neuman PLC is a securities arbitration law firm with offices in Denver, Seattle, and Phoenix.  We represent investors all over the country, including investors in Minnesota and have sued numerous firms before, including Voya Financial Advisors.

View Wilkie, d FINRA AWC

View Wilkie, d BrokerCheck 8.3.22

If you lost money with David Wilkie or Voya Financial Advisors, please Contact Us at 720-599-3505 or 206-795-5798 for a free evaluation of your case.