Scott Allen Royal, of Omaha, Nebraska, a stockbroker registered with Northwestern Mutual Investment Services LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $6,000,000.00 in damages based upon allegations that Royal breached a contract, breached fiduciary duties, and made unsuitable recommendations of variable life insurance products during the time that Royal was registered with Northwestern Mutual Investment Services LLC. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01484 (June 16, 2021).
Public Disclosure shows that Royal was fined by State of Nebraska Department of Insurance because Royal engaged in unauthorized activities involving a life insurance replacement. State of Nebraska, Order No. 2789 8521 1 90950. Nebraska Department of Insurance indicated that Royal filled out an application for Northwestern Mutual life insurance for a person who already had a life insurance policy with a different company.
Royal has been registered with Northwestern Mutual Investment Services LLC as a stockbroker since June 2, 1988, and as an investment adviser representative since September 13, 2007.
