Barry Matthew Rumpel of Neillsville Wisconsin a stockstockbroker formerly registered with Woodbury Financial Services is the subject of a customer initiated investment related written complaint on January 23, 2018 where the customer sought $35,055.39 in damages founded on accusations that the customer was placed in a variable universal life insurance policy that was not suitable for the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Rumpel has been identified in four additional customer initiated investment related disputes containing allegations of his misconduct while employed with The O.N. Equity Sales Company. Specifically, on April 21, 2008, a customer filed an investment related complaint regarding Rumpel’s conduct in which the customer requested $6,500.00 in damages based upon accusations that the customer was poorly advised concerning the liquidation of an individual retirement account causing the customer to incur unwarranted tax consequences.
Subsequently, on December 26, 2012, a customer filed an investment related complaint involving Rumpel’s activities where the customer sought more than $5,000.00 in estimated damages supported by allegations that the customer was placed into a variable universal life insurance contract issued by The Hartford despite this product not having been appropriate for the customer. Then, a customer filed an investment related civil action in the State of Wisconsin Circuit Court that involved Rumpel’s conduct in which the customer requested $50,000.00 in damages founded on accusations that Rumpel entered into a loan arrangement evidenced by a promissory note where Rumpel failed to repay the customer. Civil Action No. 16-CV-102 (Mar. 15, 2016).
Also, on November 21, 2016, a customer initiated investment related complaint concerning Rumpel’s activities was resolved for $18,672.00 in damages based upon allegations that the customer was sold a bad variable universal life insurance policy; and the customer’s financial information had been misrepresented on an application used to purchase the policy. Furthermore, a customer initiated investment related complaint regarding Rumpel’s activities was settled for $8,276.00 in damages supported by accusations that Rumpel caused the customer to pay unwarranted sales charges when he effected sales and repurchases of mutual funds in the customer’s investment account.
FINRA Public Disclosure further reveals that on May 6, 2016, Rumpel was discharged by Woodbury Financial Services Inc. founded on allegations that Rumpel entered into a loan transaction without notifying the firm or obtaining the firm’s approval. Between July 12, 2016 and May 24, 2017, Rumpel was associated with IFS Securities. Then, from July 24, 2017 to December 19, 2018, Rumpel was associated with Southwest Investments N.C. Inc.
