FINRA fined and suspended former WFG Investments broker Linda Dowd (aka Linda Trout, aka Linda Donnelly) for utilizing pre-signed distribution requests forms on multiple occasions to effectuate a verbal distribution request in contravention of firm policy. The findings state Dowd additionally reused a previously-used signature page one at least one of these forms and used her personal e-mail address in an effort to conceal the misconduct.
According to the investigation, Dowd (CRD #1281525), who established Dowd Capital, and has served as a financial advisor for Sunbelt Securities, both in Carlsbad, California, allowed a WFG customer located in New Mexico to pre-sign blank distribution request forms, which Dowd would then complete and submit to WFG in Boulder, Colorado upon receiving a verbal distribution request.
The findings state that on at least 26 occasions, Dowd used these pre-signed blank distribution forms, which falsely portrayed that the customer had signed and completed the distribution request forms at the time of the request.
Investigators found that when WFG compliance personnel became concerned about Dowd's activity, she falsely stated that she had received the customer's completed and signed distribution requests via her personal e-mail in correspondence away from the firm, when no such e-mails were actually sent on the dates of the distribution requests.
The AWC also states that when Dowd was told that her incoming and outgoing e-mails showed no evidence to corroborate her claim, Dowd admitted that she had been utilizing pre-signed distribution requests forms, in violation of firm policy.
As a result of these violations, WFG Investments opted to terminate Dowd in 2015, explaining that she had violated internal policies by using blank, pre-signed forms, and by using a personal e-mail address to create the perception of legitimate customer communications.
If you have invested with ex-WFG Investments broker Linda Dowd aka Linda Trout aka Linda Donnelly, or with any broker or financial adviser whose usage of pre-signed blank investment-related documents or correspondence away from the firm through personal e-mails has proven harmful to your investments or resulted in unauthorized transactions or similar activity detrimental to your interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.