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Roderick Whited Barred by FINRA After Allegedly Converting Firm Donations 

Dec 31, 2021 Barred Broker

Roderick Whited (CRD #: 2663822), a broker formerly registered with Intercarolina Financial Services, was recently barred by FINRA, according to his BrokerCheck Record, accessed on December 16, 2021.  

The bar was initiated by FINRA on November 15, 2021. This bar stems from allegations that from August 2017 through February 2018, Roderick Whited converted $44,170 in charitable donations from fundraising events hosted by his branch office at Northwestern Mutual Investment Services.  

Rather than transmitting the funds to the charity, as intended by the donors, Roderick Whited caused the donated funds to be deposited into his personal bank account and used the funds to pay for his own personal expenses.  

Conversion is an intentional and unauthorized taking of and/or exercise of ownership over property by someone who neither owns the property nor is entitled to possession of it.  Conversion of funds violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.   

You can read a copy of the AWC bar here.  

FINRA Sanctions 

As part of the terms of the AWC, Roderick Whited consented to a bar from associating with any FINRA member in all capacities.  

Other Disclosures 

Permitted to Resign at Northwestern Mutual Investment Services 

On January 8, 2020, Roderick Whited was permitted to resign from his position at Northwestern Mutual Investment Services following allegations that he misused funds raised for a September 2017 charity event he organized.  

Tax Liens 

Between 2010 and 2011, Roderick Whited was the subject of two tax liens that collectively totalled approximately  $14,138.63.  

Background Information 

Roderick Whited has passed the following exams: 

  • Series 63 - Uniform Securities Agent State Law Examination 
  • SIE - Securities Industry Essentials Examination 
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination 
  • Series 26 - Investment Company Products/Variable Contracts Principal Examination 

He has also worked with the following firm: 

  • Robert W. Baird & Co. Incorporated (CRD#:8158) 

Kurta Law Can Help  

If you have been victimized by Roderick Whited as a broker, don't hesitate to get in touch with us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.  

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.