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Investment Loss Options for Clients of Woodbury Financial Services, Inc. Broker Richard Riggenbach

Posted on Tuesday, January 5th, 2021 at 8:45 pm    

Woodbury Financial Services

Did you lose money investing with Woodbury Financial Services, Inc. broker Richard Riggenbach (CRD# 1686839)? Riggenbach has been registered with Woodbury Financial Services, Inc. in Bloomfield, Iowa since 2019. Previously, Riggenbach was registered with Questar Asset Management, Inc. in Bloomfield, Iowa from 2015 to 2019. 

Riggenbach has been the subject of two customer complaints in 2020, according to his CRD report:

November 2020. “Client alleges 2014 business development company investment was not suitable.” The customer is seeking $40,000 in damages and the case is currently pending. The complaint was regarding business development companies and took place while Riggenbach was registered with Woodbury Financial Services, Inc. 

September 2020. “Customers allege the representative made recommendations that did not meet the clients’ needs and allegedly caused losses.” The customer is seeking $262,000 in damages and the case is currently pending. The complaint was regarding direct investments and real estate securities and took place while Riggenbach was registered with Woodbury Financial Services, Inc. 

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Woodbury Financial Services, Inc. may be liable for investment or other losses suffered by Riggenbach’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.