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Danny Young: 6-Figure Complaint Against Lake City, Adel Rep
Cetera Advisor Networks representative Danny Young (CRD# 4115155) allegedly recommended risky investments that led to substantial losses, according to a pending investor complaint against him. A Financial Industry Regulatory Authority (FINRA) database shows that Young is registered with the firm’s branch offices in Lake City, Florida; Adel, Georgia; and Douglas, Georgia.
Danny Young’s BrokerCheck report, a public FINRA record, discloses three investor complaints against him: one pending, one denied, and one closed with no action taken.
The most recent complaint was filed in April 2021 by a customer of Voya Financial Services. It alleges that Danny Young sold “risky, high-fee investments in 2015 and 2016” which were unsuitable for them. The pending complaint alleges damages of $800,000.
A complaint filed in 2008 by a customer of ING Financial Partners alleged that Danny Young omitted information regarding a variable annuity investment. It specifically alleges that Young “never told him that, in order… to receive the full amount of his contract, he would need to annuitize his variable annuity and take payments over a 20- to 30-[year] period, or that he would need to wait for the surrender period,” leading to the claimant incurring a surrender fee when he surrendered it after speaking with an insurance agent. The complaint alleged $7,195.62 in damages, but was closed with no action taken.
A complaint filed in 2007 by a customer of ING Financial Partners alleged that Danny Young sold them “products with surrender periods that were too long for their respective agents.” The complaint alleged unspecified damages, but was denied by the firm.
According to the Financial Industry Regulatory Authority, Danny Young holds 21 years of securities industry experience. He has been registered with Cetera Advisor Networks in Lake City, Florida; Adel, Georgia; and Douglas, Georgia as a broker and investment adviser since June 2021. His registration history includes Voya Financial Advisors (Adel, Georgia; 2006-2021), USAllianz Securities (Minneapolis, Minnesota; 2004-2006), and Pan-American Financial Advisers (New Orleans, Louisiana; 2000-2004). He has passed the Uniform Combined State Law Examination (Series 66), the Uniform Securities Agent State Law Examination (Series 63), the Securities Industry Essentials Examination (SIE), the General Securities Representative Examination (Series 7), and the Investment Company Products/Variable Contracts Representative Examination (Series 6). He holds 10 state securities licenses. (Information current as of November 15, 2021).