Cedric Percell Powell, of Tampa, Florida, a stockbroker registered with Ameriprise Financial Services LLC, was the subject of a customer initiated investment related complaint that was settled on October 28, 2021, for $13,468.00 in damages based upon allegations that Powell misappropriated funds from their mutual fund accounts during the period that Powell was associated with Northwestern Mutual Investment Services LLC.
The funds were not stolen but used to pay premiums on certain insurance policies the customers were unaware or did not know existed.
Powell is referenced in three other disputes customer initiated investment related disputes concerning Powell’s conduct while associated with securities broker dealers. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that on January 17, 2020, a customer filed an investment related complaint involving Powell’s conduct in which the customer requested $15,000.00 in damages based upon allegations that Powell made omissions of material fact regarding the customer’s retirement account when Powell was associated with Northwestern Mutual Investment Services LLC. The securities broker dealer denied this complaint.
Powell is also referenced in a customer initiated investment related complaint that was settled on June 10, 2021, for $95,641.93 in damages based upon allegations that Powell wrote the customer’s names on life insurance-related application documents without their knowledge during the time that Powell was associated with Northwestern Mutual Investment Services LLC.
On July 14, 2021, another customer filed an investment related complaint involving Powell’s conduct in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that Powell took customer information with him to a new firm. This complaint was closed on October 8, 2021, with no further action taken by the customer.
Powell was associated with Northwestern Mutual Investment Services LLC in Tampa, Florida from May 20, 2011, to July 22, 2021. He has been associated with Ameriprise Financial Services LLC, in Tampa, Florida, as a stockbroker and investment advisor representative since June 24, 2021.
