• August 28, 2018
• Northwestern Mutual Investment Services, LLC
• Unauthorized Trading

The Wolper Law Firm, P.A. is currently investigating claims against Meaghan Johnson, a former Financial Advisor at Northwestern Mutual in Mclean, Virgina.  Meaghan Johnson has been in the securities industry since 2010 and previously worked for Signator Investors.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on May 23, 2018, FINRA sanctioned Meaghan Johnson, barring her from working as a Financial Advisor with a FINRA member brokerage firm after an investigation into allegations that she engaged in the forgery of customer account documents.  A copy of the sanction can be accessed by clicking https://www.finra.org/sites/default/files/fda_documents/2017053173001%20Meaghan%20Marie%20Johnson%20CRD%205754123%20AWC%20jm.pdf

In addition, Meaghan Johnson has been the subject of numerous customer complaints, alleging forgery, unauthorized account activity and unsuitable investment recommendations.  Among the complaints against Meaghan Johnson include the following:

• November 2017—“The customer alleged the representative made unauthorized changes to his non-variable life insurance policies and forged the customer’s signature on forms.” The matter was settled for $290,000.
• November 2017—”The customers allege that they did not authorize changes or loans to their non-variable life insurance policies. The customers also allege that the representative signed the customers’ names on several forms related to the unauthorized transactions.” The matter was settled for $190,000.
• June 2017—”The client alleged forgery on a variable annuity distribution form and life insurance documents that resulted in transactions without her knowledge or consent.” The matter was settled for $470,000.
• April 2017—”The client alleged Ms. Johnson and her joint work partner facilitated investments in a fund with Crescent Ridge Capital Partners. The individual operating this fund was charged in March 2017 for violations of federal laws in connection with his investment business.” The matter was settled for $225,000.

To review a full copy of Meaghan Johnson’s FINRA disclosure report, click https://brokercheck.finra.org/individual/summary/5754123#disclosuresSection

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives.  Trading long-term investment vehicles in short duration is per se improper as it presents very little benefit to the customer and only benefits the Financial Advisor, who earns commissions.  Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

If you or someone you know was a customer of Meaghan Johnson and you experienced investment losses, please contact the Wolper Law Firm, P.A. at 800.931.8452 or by email at mwolper@wolperlawfirm.com to discuss your specific situation and the legal options available.  The Wolper Law Firm, P.A. represents investors nationwide in securities litigation and arbitration.

Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.