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Barry Hesse: Did Thrivent Advisor Fail to Execute Sales?
A recent investor complaint against Jonesboro, Arkansas financial advisor Barry Hesse (CRD# 2652246) alleges that his conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Thrivent Investment Management.
Mr. Hesse’s BrokerCheck report discloses one investor complaint. Filed in in June 2023, the complaint alleges that as a representative of Thrivent Investment Management, he failed to execute sell orders in January 2022, causing unrealized market losses. The pending complaint alleges damages of $116,339.85.
FINRA Rule 5310 stipulates that FINRA-registered representatives must “make every effort to execute a marketable customer order that it receives fully and promptly.” Brokers are further required to exercise reasonable diligence to determine “the best market for the subject security and buy or sell in such market so that the resultant price to the customer is as favorable as possible under prevailing market conditions.” They must consider factors including the character of the market for the security in question, the transaction’s size and type, and the terms and conditions of the order underlying the transaction. More information about this rule is available via FINRA.
According to the Financial Industry Regulatory Authority, Barry Hesse holds 27 years of securities industry experience. Based in Jonesboro, Arkansas, he has been a broker and an investment advisor with Thrivent Investment Management since 1995 and 2004, respectively. His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He currently holds 28 state licenses. (Information current as of July 16, 2023.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.