Category Archives: Thrivent Investment Management

Thomas Studer- Thrivent Investment Managment Broker-Permanently Barred from FINRA- The Villages, TX

June 2020- The Villages, TX

According to publicly available records, former Thrivent Investment Management, Inc.,  financial advisor Thomas Struder,  has been barred from the securities industry by FINRA.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In May 2019  in FINRA case 2018060478101 Studer was  permanently barred from the securities industry to resolve allegations that he failed to follow procedures regarding power of attorney documentation that resulted in the firm facilitating a transaction by an individual who was not an authorized representative on the account.

Studer  was employed by Thrivent Financial and Thrivent Investment Management, Inc.  from June of 2014 until 11/2018.

If you have losses in an account handled by Thomas Studer, call to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Edward Earl Matthes-Former Mutual of Omaha Investment Services, Inc. Broker-Barred from Securities Industry for Alleged Theft-Oconomowoc, WI

October 2020- Oconomowoc, WI

According to publicly available records, former Mutual of Omaha Investor Services, Inc.,   financial advisor Edward Earl Matthes ,  discloses 5 regulatory events, a civil event, 15 prior customer disputes, a pending FBI investigation regarding alleged misappropriations,  and 2 terminations from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In January 2020,  the United States Securities and Exchange Commission  permanently barred Matthes from the securities industry to resolve allegations that he defrauded 26 customers out of approximately $2.4 million by convincing his customers to invest in what he described as a safe investment that would earn a guaranteed minimum yield of 4% per year.   As alleged in the complaint, the purported investment did not exist and the representative stole approximately $1.4 million for his personal use.   Matthes allegedly stole an additional $1 million by making unauthorized  sales and withdrawals from his customers’ variable annuities.   To cover up his fraud, the representative allegedly created fake account statements and paid approximately $170,000 in Ponzi-like payments to customers.

In May of 2019, Wisconsin filed case #S-239626 with allegations that Matthes misappropriated over $1 million from his insurance clients, created fictitious investments and fictitious account summary forms.   His sanctions were to Cease and Desist and being Barred from the State of Wisconsin Department of Financial Institutions Division of Securities.

In March of 2019 the Federal Bureau of Investigation launched an investigation alleging misappropriation of funds by Matthes. 

From December of 2015  until April of 2019,  at least 12  customer brought cases alleging that Matthes misappropriated funds by diverting client’s assets for his personal use, provided fictitious account statements,  provided client documentation including copies of checks written directly to Matthes that were deposited directly into his personal account and unsuitability.   These cases were collectively settled for about $1.7 million.

Matthes was employed with Mutual of Omaha Investor Services, Inc., from March of 2012 until  March of 2019 when he was discharged after allegations of creating fictitious account statements and diverting customer funds for his own personal use.  Before that time he was employed with Thrivent Investment Management, Inc.

If you have losses in an account handled by Edward Earl Matthes, call to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Robert Nordaune-Former Thrivent Investment Broker-Discloses Regulatory Event and Termination-Montevideo, MN

October 2020- Montevideo, MN

According to publicly available records Robert Nordaune (CRD#2313216), a  former stockbroker who last worked for Thrivent Investment, Inc.,  discloses a regulatory event and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In May 2020 in  case #2019064773901 FINRA alleges that Nordaune signed a customer’s name on a membership application that his member firm required for the transfer of ownership of a variable annuity without the customer’s knowledge and in violation of his firm’s policies, thus falsifying the document.   The findings stated that the customer received a copy of the membership application and complained to Nordaune, who suggested that she had electronically signed the document but forgotten about it.   The customer then complained to the firm, who terminated Nordaune.    FINRA sanctions were a 30 day suspension and a $5,000 fine.

In November 2019, Thrivent Investment Management, Inc., terminated Nordaune from employment as a result of him violating firm policy by signing the name of a member on a membership application form.

Nordaune worked with Thrivent Financial for Lutherans, Thrivent Investment Management,  and  Thrivent Financial Bank from July 2002 until his termination in November 2019.

If you had an account with Robert Nordaune that suffered losses, you may be entitled to collect damages from his prior employer. Call to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Paul Petrillo-Former Thrivent Investment Broker- Barred from FINRA-Discloses a Customer Dispute-Appleton, WI

June 2020- Appleton, WI

According to publicly available records, former Thrivent Investment Management, Inc.,  financial advisor Paul W. Petrillo,  is barred from FINRA and discloses a settled customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In 1/2020  in FINRA case 2018058262001 Petrillo was  permanently barred from the securities industry to resolve allegations that he placed discretionary orders to purchase or sell securities in customers’ outside securities accounts without notifying his member firm of his authority to do so or the executing firm of his association with this firm.    The findings stated that Petrillo also opened a family trust securities account over which he had trading authority away from his firm, but did not notify it of the accounts existence.   The findings also stated that Petrillo participated in undisclosed private securities transactions.   The findings included that Petrillo provided a false response to a request for information made by FINRA.   Petrillo deliberately failed to inform FINRA about customers’ accounts in which he effected trades away from his firm.   Sanctions were that he was permanently barred from FINRA in all capacities.

In October of 2017, a customer with Thrivent Investment Management, Inc., alleged that Petrillo placed trades in her  account without consulting her.    The case settled for almost  $33,500.

Petrillo  was employed by Thrivent Investment Management, Inc.  and Thrivent Financial for Lutherans from July 2002 until April of 2018.

If you have losses in an account handled by Paul Petrillo, call to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Jean Walsh-Josephson -Former Thrivent Investment Management Broker & Husband Die In Murder-Suicide

February 2017-Oshkosh, Wisconsin

According to US News, the sheriff of Winnebago County reports that former Thrivent Investment Management stock broker Jean A. Walsh-Josephson and her husband, Dewey Josephson,  were found shot to death in a murder-suicide. The couple was in the middle of a two week trial for allegedly stealing money from elderly clients.

The couple was found in their home in Town of Utica after they failed to show up for trial Monday morning, February  27, 2017.

Public records disclose that Walsh-Josephson worked for Thrivent Investment Management from 7/1996-9/2015 when she was discharged following being criminally charged for forgery and theft. She was permanently barred from the securities industry by FINRA in 1/2016.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870