Investor complaints against San Gabriel stockbroker Celia Zhang (CRD# 5918387) allege that she recommended unsuitable investments. Financial Industry Regulatory Authority...Read More
Tyler Woodward: Former Colorado MML Advisor Barred by FINRA
A disciplinary action taken by the Financial Industry Regulatory Authority against former Colorado Springs, Colorado broker and investment advisor Tyler Woodward (CRD# 6032935) barred him over findings he refused to provide testimony as part of an investigation into allegations he converted customer funds. A former representative of MML Investors Services, Lessard was indefinitely barred from acting as a broker or otherwise associating with a broker-dealer firm as a result of these findings.
According to an enforcement decision (No. 2018058866401) rendered in March 2019, FINRA received a customer complaint in June 2018 alleging violations of FINRA rules by Tyler Woodward, including that he converted customer funds. Following the receipt of this complaint, FINRA initiated an investigation, pursuant to which it sent Woodward a request for documents and information. FINRA states that he did not respond to this request, and as such FINRA staff sent him a second request to which he also did not respond. FINRA separately requested that he appear for on-the-record testimony regarding the allegations, and following his failure to respond to the request or appear for testimony, FINRA sent another request to which he also did not respond.
FINRA subsequently filed a complaint against Woodward alleging that he violated FINRA rules by failing to provide information and documents and to appear for testimony. Following his failure to respond to these charges, FINRA filed for an entry of default decision against him.
According to FINRA, the underlying allegations against Tyler Woodward include a customer’s statements that Woodward “persuaded [him] to transfer more than $117,000” from his brokerage account to a brokerage account at another firm, “then to a bank account, and then finally to a company that Woodward created,” Precision Financial Research and Management. According to that customer’s complaint, Woodward additionally “obtained electronic access to his brokerage account,” and used that access to control trades in it. The customer alleged that Woodward did not respond to “repeated demands… for the return of his money.”
The default decision rendered by FINRA in the complaint against Tyler Woodward found that he failed to appear documents and information and to appear for on the record testimony. FINRA accordingly barred him indefinitely from association with any FINRA member firm.
Tyler Woodward is currently not registered as a broker. His employment history includes MML Investors Services in Colorado Springs, Colorado and Northwestern Mutual Investment Services in Pueblo, Colorado. He currently holds no state licenses and has passed five securities industry qualification examinations.