Investors Allege Daniel Loy Misrepresented Alternative Investments

Daniel Loy (CRD #: 3029654), a broker registered with Independent Financial Group, allegedly misrepresented investments, according to his BrokerCheck record, accessed on May 17, 2025. Keep reading if you have questions about Daniel Loy’s conduct as a broker.

Investor Disputes

In a pending dispute filed on March 4, 2025, an investor alleged that Daniel Loy sold them an unsuitable alternative investment and misrepresented it as guaranteed.

On April 13, 2022, an investor alleged that Daniel Loy misrepresented alternative investment products by claiming they were suitable, would provide more diversification, and that they would generate a return of principal in approximately 3-5 years. This misconduct allegedly occurred from 2013-2015.

The investor sought $1.5 million in damages and received a settlement of $370,000.

On September 1, 2021, an investor alleged that Daniel Loy misled them and recommended an unsuitable investment strategy involving illiquid alternative investments. The client sought $150,000 and received a settlement of $75,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Financial goals
• Risk tolerance
• Time horizon (i.e., how long the investment will be held)
• Investing experience
• Tax status

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulative, deceptive, and otherwise fraudulent tactics to influence the purchase and sale of securities. This includes misrepresenting or omitting facts about securities, such as their limitations, risks, or potential returns.

Resignation from Voya Financial Advisors

On September 29, 2015, Daniel Loy was permitted to resign from Voya Financial Advisors while allegedly under heightened supervision for using an unapproved email and failing to submit two pieces of advertising for firm approval.

FINRA Rule 2210

FINRA Rule 2210 requires firms to review and approve all communications with the public, including advertising.

Background Information

Daniel Loy has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Daniel Loy is a registered broker in Arizona, California, Illinois, Texas, and Utah. He is also a registered investment adviser in California and Texas.

He has also worked for the following firms:

• Voya Financial Advisors (CRD#:2882)
• MetLife Securities (CRD#:14251)
• Metropolitan Life Insurance Company (CRD#:4095)
• Mony Securities (CRD#:4386)
• Citicorp Investment Services (CRD#:23988)

Kurta Law Can Help

If you worked with Daniel Loy and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.