Articles Tagged with Devon Freeman

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Devon Freeman (Freeman), previously associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one tax lien, alleging that Freeman recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on January 28, 2025.

Without admitting or denying the findings, Freeman consented to the sanctions and to the entry of findings that he forged and backdated variable insurance applications and other documents. The findings stated that Freeman forged one customer’s signature on a document cancelling a life insurance policy and forged an additional customer’s signature nine times on a life insurance application. In addition, Freeman forged a third customer’s signature on three documents relating to variable insurance policies. Furthermore, Freeman forged a fourth customer’s signature eight times on a variable insurance application. Freeman also backdated this document to create the misimpression that the customer had applied for the insurance policy at a time when they were at an age that qualified them to obtain the policy at a lower cost. None of the customers authorized him to sign the documents on their behalf or were aware that he had engaged in these forgeries or the above-referenced backdating. After the firm informed the customers of Freeman’s conduct, three of the customers decided to remain invested in their fixed and variable life insurance policies and one customer declined to remain invested and received a refund of her premiums. Through this conduct, Freeman caused his member firm to maintain inaccurate records. The findings also stated that Freeman exchanged text messages with customers about securities business using his personal cell phone, which was an unapproved channel. Freeman did so without his firm’s knowledge or permission, and he did not send a copy of these communications to Northwestern. As a result, Freeman caused his firm to maintain incomplete records.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Devon Freeman (Freeman), previously associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one tax lien, alleging that Freeman recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on January 28, 2025.

Without admitting or denying the findings, Freeman consented to the sanctions and to the entry of findings that he forged and backdated variable insurance applications and other documents. The findings stated that Freeman forged one customer’s signature on a document cancelling a life insurance policy and forged an additional customer’s signature nine times on a life insurance application. In addition, Freeman forged a third customer’s signature on three documents relating to variable insurance policies. Furthermore, Freeman forged a fourth customer’s signature eight times on a variable insurance application. Freeman also backdated this document to create the misimpression that the customer had applied for the insurance policy at a time when they were at an age that qualified them to obtain the policy at a lower cost. None of the customers authorized him to sign the documents on their behalf or were aware that he had engaged in these forgeries or the above-referenced backdating. After the firm informed the customers of Freeman’s conduct, three of the customers decided to remain invested in their fixed and variable life insurance policies and one customer declined to remain invested and received a refund of her premiums. Through this conduct, Freeman caused his member firm to maintain inaccurate records. The findings also stated that Freeman exchanged text messages with customers about securities business using his personal cell phone, which was an unapproved channel. Freeman did so without his firm’s knowledge or permission, and he did not send a copy of these communications to Northwestern. As a result, Freeman caused his firm to maintain incomplete records.