Judie Marie Borden of Kalamazoo, Michigan, a stockbroker registered with Northwestern Mutual Investment Services, LLC, was terminated on September 7, 2017, based upon a customer’s allegations that Borden inappropriately placed the customer’s signature on account distribution documents.
Particularly, Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on August 28, 2017, a customer filed an investment related written complaint involving Borden’s conduct, alleging that Borden made misrepresentations to the customer about a transfer of funds from John Hancock to Northwestern Mutual; failed to inform her that surrender penalties would be assessed upon the liquidation of Northwestern Mutual annuities; signed distribution forms without ever having apprised the customer; and caused withdrawals to be effected in the customer’s account without the customer’s authorization, leading the customer to sustain undue tax consequences.
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