Tag Archives: Feb 2018 barred from FINRA

Thrivent agent indicted on fraud charges December 26, 2018, Jerry Wayne Simpson allegedly stole from widow and clients Mar 2016 to Oct 2017, Feb 2018 barred from FINRA

Thrivent agent indicted on fraud charges December 26, 2018, Jerry Wayne Simpson allegedly stole from widow and clients Mar 2016 to Oct 2017, Feb 2018 barred from FINRA

“You don’t need to be Christian to join our team.”…Thrivent job opening ad

“Thrivent contends that its commitment to individual arbitration is ‘”important to the membership because it reflects Thrivent’s Christian Common Bond, helps preserve members’ fraternal relationships, and avoids protracted and adversarial litigation that could undermine Thrivent’s core mission.’”…Thrivent v. Acosta Nov. 3, 2017

“I worked at Thrivent Financial full-time (More than 8 years)”                      “Claims to be based on Christian values but does not adhere to them.”…Former Thrivent employee

 

From Kentucky.com.

“A financial advisor in Western Kentucky used lies and false paperwork to steal $400,000 from clients, a federal grand jury has charged.

The grand jury indicted Jerry Wayne Simpson on three counts of wire fraud, a charge punishable by up to 20 years in prison.

Simpson was a licensed agent for Thrivent Investment Management Inc., in Madisonville, according to the indictment. He allegedly took money from clients between March 2016 and October 2017.

In one case, Simpson allegedly forged a clients’ name on paperwork requesting to have money withdrawn from the person’s annuities. Simpson withdrew about $248,000 from the victim’s accounts and had it deposited in his personal bank account, the indictment charged.

In another case, Simpson falsely told a widow that her late husband had taken out a loan against his life insurance policy and gave her a cashier’s check for $54,769 when the policy actually was worth $82,000, the indictment said.

Simpson allegedly kept the rest of the money.”

Read more:

https://www.kentucky.com/news/state/article223738450.html

From The White Law Group.
“What is Failure to Supervise? FINRA RULE 3110 (SUPERVISION)”

“According to the Financial Industry Regulatory authority (FINRA) FINRA Rule 3110 requires a firm to establish and maintain a system to supervise the activities of its associated persons that is reasonably designed to achieve compliance with the applicable securities laws and regulations and FINRA rules.

The rule details requirements for a firm to have reasonably designed written supervisory procedures (WSPs) to supervise the activities of its associated persons and the types of businesses in which it engages.

Among other things, a firm’s WSPs must address supervision of supervisory personnel and provide for the review of a firm’s investment banking and securities business, correspondence and internal communications, and customer complaints. WSPs should describe:”

Read more:

https://www.whitesecuritieslaw.com/2016/09/23/what-is-failure-to-supervise-finra-rule-3110-supervision/

From FINRA for Jerry Wayne Simpson.

THRIVENT INVESTMENT MANAGEMENT INC.
(AAL CAPITAL MANAGEMENT CORPORATION,AAL DISTRIBUTORS INC.,FORTRESS DISTRIBUTORS, INC.,THRIVENT INVESTMENT MANAGEMENT INC.)
CRD#: 18387/SEC#: 801-29618,8-36525
B   Brokerage Firm Regulated by FINRA (Kansas City district office)
IA Investment Adviser Firm   Visit SEC Site
MAIN ADDRESS
625 FOURTH AVENUE SOUTH
MINNEAPOLIS, MN 55415-1665 UNITED STATES
Direct Owners and Executive Officers
Name    Position
THRIVENT FINANCIAL HOLDINGS, INC.
OWNER
BOUSHEK, RANDALL LEE (CRD#:4120176)
DIRECTOR
CHIEF COMPLIANCE OFFICER
DIRECTOR AND PRESIDENT
MEEHAN, TIMOTHY SEAN (CRD#:1492218)
CHIEF LEGAL OFFICER & SECRETARY
DIRECTOR OF AFFILIATE FINANCIAL MANAGEMENT CORPORATE ACCOUNTING, CFO & TREASURER
DIRECTOR AND VICE PRESIDENT

https://brokercheck.finra.org/firm/summary/18387

 

More here:

https://citizenwells.com/

http://citizenwells.net/

 

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