Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on June 27, 2018 indicate that South Dakota-based Thrivent Investment Management broker/adviser Matthew Niederbaumer has received several regulatory sanctions in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Niederbaumer (CRD# 4553475).
Matthew Niederbaumer has spent 15 years in the securities industry and has been registered with Thrivent Investment Management in Huron and Watertown, South Dakota since 2002. He has no previous registrations. He has passed two securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on July 26, 2002, and Series 7 (General Securities Representative Examination), which he obtained on July 23, 2002. He is a registered broker and investment adviser with 13 US states and territories: Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Minnesota, Nebraska, North Carolina, North Dakota, South Dakota, Washington, and Wisconsin.
According to his BrokerCheck report, Matthew Niederbaumer has received four regulatory sanctions.
In January 2018 the North Dakota Insurance Department sanctioned him following allegations he failed to timely report his prior sanction by the State of South Dakota. He was issued a monetary penalty other than fines.
In November 2017 State of Wisconsin Insurance Commissioner sanctioned him following allegations he failed to timely report an administrative action from the State of South Dakota. He was issued a fine of $500.
In May 2017 the South Dakota Securities Division sanctioned him in connection to the prior FINRA action alleging he exercised discretion in customer accounts without obtaining proper customer authorization or firm approval. He was issued a ten-day suspension and a fine of $500.
In 2016 FINRA sanctioned him following allegations he exercised discretion in connection to the sale and purchase of exchange-traded notes and funds without obtaining prior written authorization from the customers or his firm’s approval of the accounts as discretionary. He was issued a ten-day suspension and a fine of $5,000.
If you have lost money investing with Matthew Niederbaumer, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.