Barred Broker Donnell Bowen Mentioned In Client Disputes

Evidently, investors are coming forward with disputes concerning securities broker Donnell Bowen (CRD#: 5641822, Washington, DC). Notably, the securities broker, who associated with Northwestern Mutual Investment Services from April 2, 2009 to February 1, 2017, reports 14 investor disputes on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck. Apparently, Bowen’s clients suggest that he executed unreasonable trades and caused them to experience serious losses. For additional information concerning the disputes involving Bowen, see below.

Donnell Bowen Allegedly Makes Unsuitable Trades In Northwestern Mutual Client’s Account

Apparently, a client of Northwestern Mutual Investment Services contested Donnell Bowen’s actions by lodging a complaint on August 10, 2018. Allegedly, Bowen made inappropriate trades in the client’s account. Supposedly, Bowen placed the client in bad insurance contracts and mutual funds. It appears that these products were not supported by the client’s investment profile. In addition, the client indicated that the broker might have forged the client’s signature on a loan document. For this reason, Northwestern Mutual agreed to pay the client the sum of $33,383.27 on November 6, 2018.

Bowen Allegedly Made Unauthorized Transactions

Evidently, on November 15, 2017, Northwestern Mutual clients brought a formal dispute in reference to Donnell Bowen. Mainly, the clients contended that Bowen initiated changes or loans without their permission. It appears that these modifications were related to the clients’ variable life insurance policies. Moreover, the clients made allegations of unauthorized transactions through forging of the clients’ signatures on several insurance forms. Therefore, on August 2, 2018, Northwestern Mutual paid the clients $123,313.46.

FINRA Bars Donnell Bowen

Notably, on June 1, 2018, FINRA issued Acceptance, Waiver and Consent (“AWC”) #: 2017052930501 barring Bowen. Mainly, Bowen failed to comply with Rule 8210 because he did not provide information and documentation or testify when FINRA investigated him for forging client signatures. Evidently, FINRA followed up on Northwestern Mutual’s report of investigating him for alleged forgery of its clients’ insurance documents. However, Bowen refused to speak up about the allegations against him when FINRA investigated Northwestern’s basis of terminating the broker.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Did Northwestern Mutual Investment Services’ Donnell Bowen Sell You Bad Investments?

Have you experienced losses by investing with Donnell Bowen? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities brokers and brokerage firms.