Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
Ed Matthes: FINRA Bars Wisconsin Mutual of Omaha Advisor
A disciplinary action taken by the Financial Industry Regulatory Authority against former Oconomowoc, Wisconsin broker and investment advisor Ed Matthes (CRD# 2788055) barred him over allegations he failed to requested information as part of a FINRA investigation. A former representative of Mutual of Omaha Investor Services, Matthes was indefinitely barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver and Consent (No. 2019061857901), FINRA sent Ed Matthes a request for documents and information on March 8, 2019. Matthes then indicated through counsel on March 18, 2019 that he would not comply with the request. FINRA’s findings state that this refusal constituted violations of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, Ed Matthes was barred from associating with any FINRA member in any capacity.
Ed Matthes was also the subject of a May 2019 sanction by Wisconsin securities regulators in connection to allegations he misappropriated more than $1 million in funds from insurance clients, and also that he “created fictitious investments and… account summary forms.” He was barred from all registrations in the state.
Ed Matthes’ disclosure records also list ten settled customer complaints against him. A 2019 complaint concerning his conduct at Mutual of Omaha Investor Services, for instance, alleged that he misappropriated funds and created fictitious documents. The complaint reached a settlement of $182,483.10. Another 2019 complaint concerning his activities as a representative of Mutual of Omaha Investor Services similarly alleged that he misappropriated funds by diverting investors’ assets into his bank account. The complaint reached a settlement of $392,360.82. Another 2019 complaint alleged that as a representative of Mutual of Omaha, he misappropriated funds and created fictitious account statements. The complaint reached a settlement of $188,347.92
Ed Matthes is not currently registered as a broker or investment advisor. His employment history includes Mutual of Omaha Investor Services in Oconomowoc, Wisconsin, Thrivent Investment Management, MML Investors Services, and AAL Capital Management.. He currently holds no state registrations and has passed five securities industry qualification examinations.