UPDATE: Investigation of EDWARD MATTHES – Oconomowoc, WI
Edward Matthes, formerly with Mutual of Omaha Investor Services, Subject of SEC Complaint
Have you lost money with financial advisor Edward Matthes of Oconomowoc, Wisconsin? We are continuing to look into allegations made by the Securities and Exchange Commission with respect to Edward Matthes. The SEC filed a complaint against him, alleging that he defrauded his investment advisory customers out of $2.4 million.
FINRA, the Financial Industry Regulatory Authority, previously filed a case against Mr. Matthes. FINRA barred Matthes from the securities industry after he failed to respond to a FINRA investigation. FINRA was investigating Matthes based on “an external tip”.
Edward Matthes was a financial advisor and registered representative of Mutual of Omaha Investor Services from April 2012 to March 2019. He worked at a branch office Oconomowoc, Wisconsin. He was the subject of three previous customer disputes, and he was also terminated by another firm in 2006.
Brokerage firms like Mutual of Omaha Investor Services have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Ann Arbor, Michigan; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Wisconsin. Our attorneys have represented over one thousand investors against many brokerage firms in the past.