Sign of the Financial Industry Regulatory Authority

Roderick Len Whited, of Gainesville, Florida, a stockbroker formerly registered with Northwestern Mutual Investment Services, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings of his misuse of funds while he was associated with Northwestern Mutual Investment Services. Letter of Acceptance, Waiver, and Consent No. 2020065505201 (November 15, 2021).

According to the AWC, Whited was a Northwestern Mutual Investment Services managing director in Gainesville, Florida, during which time Whited organized and hosted fundraising events for the benefit of a pediatric cancer charity. Between August of 2017 and February of 2018, Whited received $44,170.00 in donations relating to the charity. Instead of using the funds for the charity’s benefit, Whited placed them in his bank account and used them for his purposes. FINRA found that Whited violated FINRA Rule 2010 by converting funds.

FINRA Public Disclosure also shows that a customer filed an investment related complaint regarding Whited’s activities where they sought compensatory damages based upon accusations of forgery by Whited at Northwestern Mutual Investment Services, resulting in damages on a variable life insurance policy transaction.

Whited was permitted to resign from Northwestern Mutual Investment Services on January 8, 2020, founded on allegations of his misuse of funds.