- February 8, 2022
- Northwestern Mutual Investment Services, LLC
Timothy Claypool (CRD#: 4729794) was a previously registered Broker and registered Investment Advisor at Northwestern Mutual Investment Services, LLC.
He entered the securities industry in 2004 and previously worked for Northwestern Mutual Investment Services, LLC; Farmers Financial Solutions, LLC; Edward Jones; Raymond James Financial Services, Inc.; and Merrill Lynch, Pierce, Fenner & Smith, Inc.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in October 2021, Northwestern Mutual Investment Services, LLC permitted Timothy Claypool to resign after allegations were made. The disclosure states, “The representative was permitted to resign while under internal review for potentially unsuitable sales activity related to a variable annuity contract and potentially unsuitable and/or discretionary investment account trades, in violation of Firm policy, for the purpose of generating commissions. The internal review also identified that the representative was involved in referring a customer to participate in a passive investment.”
In addition, Timothy Claypool has been the subject of one disclosure, including the following:
- August 2016 — A civil judgment/lien of $8,613 was levied against Timothy Claypool.
For a copy of Timothy Claypool’s FINRA BrokerCheck, click here.
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FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first.
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