ING Financial Services, Inc. Investor Claims Is What We Do - All Day, Every Day
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ING Financial Partners, Inc. Investment Losses

Investor Claims Against ING Financial Partners

ING Financial Partners, Inc. is the broker-dealer division of ING Group, one of the nation's largest retirement and insurance service providers. Its central office is in Des Moines, Iowa and was founded in 1968. ING Financial Partners has more than 1,000 retail offices throughout the United States in addition to more than 3,000 representatives. Another division of ING Group is ING U.S. Investment Management, an asset management firm that manages nearly $200 billion in investments by institutions and individual investors.

Some ING products and services include mutual funds, financial planning, brokerage, advanced sales, annuities and more. ING Financial Services markets itself as a trusted brand out for the investors' best interests. Unfortunately, various ING Firms and ING-registered stockbrokers have a checkered investment history, and some have even been accused of fraud and various other types of misconduct. If you trusted your hard-earned money with ING Financial Partners, but you suffered substantial financial loss, you may be entitled to file an investor claim to recover your losses against ING Financial Partners, Inc. A securities fraud attorney at Meyer Wilson can help.

ING Financial Partners: Fraud and Misconduct

According to records listed by the Financial Industry Regulatory Authority (FINRA), ING Financial Partners has previously been fined. In February 2013, FINRA fined five different ING Firms a total of $1.2 million for "email retention and review violations." This FINRA fine came after the regulatory agency discovered that various ING firms failed to keep and/or review millions of emails, the time span ranging anywhere from two months to over six years. Many of these emails required supervisory review, but were never even viewed.

In 2006, NASD (now a part of FINRA) fined four ING broker-dealers for $7 million total over directed brokerage violations. Specifically, the violations involved receipt of directed brokerage that, in exchange, would give various mutual fund companies preferential treatment. The four broker-dealer firms fined in this regulatory action were in El Segundo, Des Moines, Denver and St. Cloud. NASD alleged that ING's conduct was in violation of the Anti-Reciprocal Rule. This rule forbids any type of arrangement that would use brokerage commissions to pay firms for selling shares of mutual funds. This type of practice uses preferred treatment as an incentive, which went against NASD rules.

In 2010, former Florida broker-dealer Michael J. DiMare, registered representative with ING Financial Partners, was permanently barred for selling fake financial products. His scheme amounted to more than $1.9 million taken from investors. Rather than an oversight, negligence or some other type of inaction, DiMare was found to have deliberately lied and stolen from his clients and then lied some more to cover up his scheme. This is an example of blatant stockbroker misconduct.

Recover Your Losses with an Investment Fraud Attorney

If you or someone you know suffered financial losses caused by ING Financial Partners or one of its registered representatives, do not hesitate to contact a securities fraud lawyer at Meyer Wilson. Our firm has the resources and knowledge necessary to handle your investor claim so that you can recover your losses. Financial advisors are required by law to act in their clients' best interests, not their own. If you were defrauded or some other type of misconduct on behalf of ING led to you losing all or part of your assets, contact Meyer Wilson today for a free case evaluation.

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