According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Glen Riesterer (Riesterer), previously associated with Packerland Brokerage Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Riesterer recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $66,744.00 on August 21, 2023.
[REDACTED] states she and her husband purchased this annuity from Glen Riesterer who was the owner president of Riesterer financial. She states Glen told them they would receive 10% interest for 10 years and when the contract is up they will get a letter and they can come into his office with their daughters to discuss. [REDACTED] states they received statements throughout the ten years with the values changing, however when she asked Glen about the statements he told her they were locked in at the 10% and the statements were computer printouts. [REDACTED] states Glen passed away, so someone else took over. They didn’t receive the letter they were expecting in July, so they contacted the financial professional and Nationwide. She states they were counting on the $195,665 and they weren’t told they could only get it over twenty years. They were planning to take their original $100,000 and the remaining $95,665 they would receive income over 10 years. They didn’t expect it would take them 20 years to get the $195,665 because this would make [REDACTED]almost 100. [REDACTED] states they transferred the funds in the Nationwide account to Athene because they wanted a stable account and a guaranteed return at their ages. The amount transferred was $118,921.74 and since they were expecting the $195,665 they are asking for the additional funds sent to them or payments for the 10-year period on the remaining amount.
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