Advisor Floyd Powell Accused of Selling Fraudulent Securities

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) former advisor Floyd Powell (Powell), formerly associated with MML Investors Services, LLC (MML Investors) in Albertville, Alabama has been accused by at least four clients of selling fraudulent investments. In October 2018 a customer filed a complaint alleging that Powell, beginning in or around 2016, recommended that they invest in unregistered and fraudulent investment programs, made false representations, and failed to disclose material facts about the investments.  The customer alleged over $3.1 million in damages.  The claim is currently pending. Also in October 2018 another customer filed a complaint alleging that Powell made inappropriate and unsuitable investment recommendations to and transactions beginning in early 2017.  The claim is currently pending. In August 2018 another client alleged violations of securities law regarding Powell’s recommendation to…

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