Joel Parady, ReJoyce Advisor, Barred over Fraud Allegations

Carmel, Indiana financial advisor Joel Parady (CRD# 6938873) was recently terminated by Howard Bailey Securities in connection with an enforcement action against him. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that he is currently registered as an investment advisor with ReJoyce Wealth Management.

Mr. Parady’s BrokerCheck report discloses his firing from Howard Bailey Securities. Filed in January 2024, states that the firm terminated him after the Indiana Secretary of State Securities Division barred him from acting as an investment adviser representative. Another disclosure, also filed in January 2024, states that regulators in Indiana barred him in connection with allegations of “Securities and Investment Advisor Fraud.”

On January 24, 2024, a news article published by Fox59 News reported that according to regulators, ReJoyce Wealth Management CEO Alexander Joyce “took over $2 million of client funds that were supposed to be deposited into a Chase brokerage account” and used the money to buy a home. “The investigators within our Securities Division are committed to standing up for Hoosiers and protecting their investments,” said Secretary of State Diego Morales in a statement. “We will continue to educate Hoosiers, so they don’t fall victim to these bad actors.”

According to the Financial Industry Regulatory Authority and Securities and Exchange Commission, Joel Parady holds one year of securities industry experience. Based in Carmel, Indiana, he has been an investment advisor with ReJoyce Wealth Management since October 2023. His past registrations include Howard bailey Securities (Brownsburg, Indiana; October 2023 through January 2024), Foundations Investment Advisors (Carmel, Indiana; November 2022 through October 2023), and Edward Jones (St. Louis, Missouri; October 2019 through February 2020). His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; and the Uniform Investment Adviser Law Examination, or Series 65. (Information current as of January 30, 2024.)

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