Michael John Wood, of Lake Tapps, Washington, a stockbroker registered with Thrivent Investment Management Inc., was terminated from employment on July 31, 2016, based upon allegations that he submitted variable settlement option transactions for a customer despite the customer never having consented to the transactions.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Wood has been identified in two customer initiated investment related disputes containing allegations of his wrongdoing while associated with Thrivent Investment Management Inc. In particular, on January 14, 2013, a customer initiated investment related written complaint involving Wood’s conduct was settled for $5,669.60 in damages based upon allegations that he omitted information from the customer regarding penalties assessed for liquidating the customer’s insurance policies.
Subsequently, on May 16, 2014, a customer filed an investment related written complaint regarding Wood’s activities, wherein the customer requested $8,352.93 in damages based upon allegations that Wood effected the unauthorized purchase of the customer’s variable life insurance policy.
Since May 2, 2017, Wood has been associated with Independent Financial Group, LLC.
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