FINRA Bars Northwestern Mutual Broker Michael Gravelyn after Allegations
According to public records, FINRA, the self-regulator, has reportedly barred financial advisor Michael Gravelyn (CRD # 6569005) from working in the securities industry.
According to a letter of acceptance, on May 11, 2023, Northwestern Mutual filed a Uniform Termination Notice for Securities Industry Registration (Form U5) disclosing that Gravelyn had been permitted to resign after a review of his business practices revealed that he had violated company policy.
Northwestern reportedly discovered the representative had processed multiple client bank account drafts without client authorization, thereby allegedly creating the appearance that he was manipulating non-variable life insurance premium payments to prevent policy lapses and commission reversals, and that he had purportedly provided dishonest responses to questions regarding the bank account draft authorizations.
After Gravelyn’s termination, three written complaints were received alleging that signatures had been affixed to non-variable life insurance documents without the customers’ knowledge or consent.
FINRA has reportedly barred Gravelyn after his alleged refusal to produce requested information and documents in connection with its investigation of his resignation from the firm.
According to his broker report, Gravelyn has 12 investor disputes filed against him since May of 2023. Many of the allegations involve a lack of client signatures on non-variable life insurance policies.
FINRA BrokerCheck Report – Michael Gravelyn
According to this FINRA BrokerCheck report, Michael Gravelyn was affiliated with the following firms during his career, among others:
09/07/2017 – 05/11/2023, NORTHWESTERN MUTUAL INVESTMENT SERVICES, LLC (CRD#:2881), GRAND RAPIDS, MI,
B, 05/25/2017 – 06/14/2017, NORTHWESTERN MUTUAL INVESTMENT SERVICES, LLC (CRD#:2881), GRAND RAPIDS, MI
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
FINRA BrokerCheck provides investors with detailed information about the professional history, qualifications, and regulatory actions of brokers and brokerage firms. You can use the tool to verify if a broker or brokerage firm is registered with FINRA, review their employment history, licensing status, and any regulatory actions or complaints filed against them.
Filing a Complaint against your Brokerage Firm
When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
If you have suffered investment losses with Michael Gravelyn and Northwestern Mutual, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.
Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.
With over 30 years of securities law experience, The White Law Group has the expertise to help investors to recover their securities fraud losses.
