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Investigation of MSI Financial Services, Inc. Financial Advisor Floyd Powell

Posted on Saturday, January 5th, 2019 at 7:34 am    

MSI Financial Services

Erez Law is currently investigating former MSI Financial Services, Inc. financial advisor Floyd Powell (CRD# 2220029) regarding investment losses. Powell has been registered with MML Investors Services, LLC in Albertville, Alabama from March 2017 to February 2018 and with MSI Financial Services, Inc. in Albertville, Alabama from 1992 to 2017.

Powell has been the subject of four customer complaints from 2018, according to his CRD report:

October 2018. “Beginning in or around 2016, the Claimants allege that the rep recommended that they invest in unregistered and fraudulent investment programs, made false representations and failed to disclose material facts about the investments.” The customer is seeking $3,169,727 in damages and the case is currently pending. This case is regarding unregistered securities.

October 2018. “The customer alleges the rep made inappropriate and unsuitable investment recommendations to and transactions for the Complainant, beginning in early 2017.” The case is currently pending. This case is regarding promissory notes.

August 2018. “Claimant alleged violation of securities law regarding the former representative’s recommendation to invest in unregistered and fraudulent investment program, in July 2016.” The customer is seeking $290,001 in damages and the case is currently pending. This case is regarding unregistered securities.

May 2018. “Plaintiffs alleged the former advisor recommended unregistered and fraudulent investment programs in January and July 2017.” The customer is seeking $135,715.67 in damages and the case is currently pending. This case is regarding promissory notes.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, MSI Financial Services, Inc. may be liable for investment or other losses suffered by Powell’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.