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Written by 3:12 pm Blog, Current Investigations

CFP Board Reportedly Sanctions Advisor Roderick L. Whited after FINRA Bar  

CFP Board Reportedly Sanctions Advisor Roderick L. Whited after FINRA Bar , featured by top securities fraud attorneys, the White Law Group

Advisor Roderick Whited, Northwestern Mutual, Allegedly Misappropriated Funds  

The Certified Financial Planner Board of Standards, Inc. (CFP Board) reportedly announced this week public sanctions against several representatives including reportedly Roderick L. Whited, of Gainesville, FL. In July 2022, CFP Board barred Whited from the CFP® certification marks  after he allegedly failed to comply with CFP Board’s Interim Suspension Order. CFP Board was reportedly investigating Whited after the Financial Industry Regulatory Authority (FINRA) reportedly barred him from associating with any FINRA member at any time on November 15, 2021.  

Whited allegedly converted $44,170 in charitable donations from a pediatric cancer charity to purportedly pay for his own personal expenses, according to FINRA’s findings. According to his BrokerCheck profile, Whited reportedly has six disclosure events on his record including two employment separations, 1 customer complaint, 2 judgement/liens and the bar.  

Whited was reportedly affiliated with the following broker dealers and investment advisors, among others:   

B, 10/06/2020 – 11/15/2021, INTERCAROLINA FINANCIAL SERVICES, INC. (CRD#:19475), GAINSVILLE, FL  

B, 04/17/1996 – 02/06/2020, NORTHWESTERN MUTUAL INVESTMENT SERVICES, LLC (CRD#:2881), Gainesville, FL  

The CFP Board’s administrative permanent bar was effective as of August 16, 2022.   

Potential Lawsuits to Recover Investment Losses   

The White Law Group is investigating potential securities claims involving representative Roderick Whited and the liability his employers may have for failure to properly supervise him.           

When brokers abuse client accounts or conduct transactions that violate securities laws, such as making unauthorized trades or making unsuitable investments, the brokerage firm they are working with may be liable for investment losses. 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.        

The brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.          

If you are concerned about investments with Roderick Whited, the securities attorneys of 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 with offices in Chicago, Illinois and Seattle, Washington.      

For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.      

 

Tags: , , , , , , , , , Last modified: September 9, 2022