Woodmen Financial Services

There are Recent Customer Complaints with Broker William Rankin in Firm Woodmen Financial Services, INC.

August 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Rankin (Rankin), previously associated with Woodmen Financial Services, INC., has at least one disclosable event. These events include one regulatory event, alleging that Rankin recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on December 19, 2023.

Without admitting or denying the findings, Rankin consented to the sanction and to the entry of findings that he refused to produce information and documents as requested by FINRA in connection to its investigation of allegations made on Form U5 submitted by his member firm. The findings stated that his Form U5 disclosed that a customer had alleged that Rankin recommended the liquidation of an IRA without notifying her of the tax ramifications.

There are Recent Customer Complaints with Broker Anthony Brinkmeier in Firm Woodmen Financial Services, INC.

July 6, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Anthony Brinkmeier (Brinkmeier), previously associated with Woodmen Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Brinkmeier recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $31,000.00 on October 03, 2023.

In discussions with Woodmen of the World Life Insurance Society (‘WoodmenLife’), the Firm’s parent company and an insurance company, WFS understands that [REDACTED] applied for an indexed universal life product in May of 2021. The indexed universal life product was purchased with funds from [REDACTED] bank account. On the application and the replacement form, neither [REDACTED] nor Mr. Brinkmeier listed any other products as funding the indexed universal life product. In August of 2023, WoodmenLife received a written complaint from [REDACTED] alleging misrepresentation at the time of sale and alleging that the product was funded by partial surrenders from a WoodmenLife variable annuity certificate (the indexed universal life product was not sold through WFS; the variable annuity certificate was sold through WFS). WoodmenLife has advised that it will cancel [REDACTED] indexed universal life insurance product and return all premiums received from that product. Given that Mr. Brinkmeier has been involved in more than one complaint since his resignation from WoodmenLife, WoodmenLife also advised WFS that it is in the midst of a review of Mr. Brinkmeier’s indexed universal life business. To date, WoodmenLife has advised that no other sales have been flagged as problematic outside of the current and previously reported complaints.

Broker Jeffery Sanders in Woodmen Financial Services, INC. Firm Has Customer Complaint

May 2, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffery Sanders (Sanders), previously associated with Woodmen Financial Services, INC., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Sanders recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on May 23, 2024.

Respondent Sanders failed to respond to FINRA requests for information.

There are Recent Customer Complaints with Broker Wendell Verdell in Firm Woodmen Financial Services, Inc.

February 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Wendell Verdell (Verdell), currently associated with Woodmen Financial Services, Inc., has at least one disclosable event. These events include one customer complaint, alleging that Verdell recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $20,700.00 on December 04, 2024.

The customer purchased a Lincoln Financial Variable Annuity and submitted a complaint in late 2024 that she was not receiving the interest rate she expected for the guaranteed payout rate. After review, it appears there May have been confusion at the point of sale regarding whether the issue date or withdrawal date triggered the interest rate value. Because of this confusion, the Firm elected to honor the higher interest rate and worked with Lincoln Financial to provide the customer with the interest rate in alignment with her expectations. The $20,700 is the estimated cost from Lincoln Financial for the breakage in the interest rates.