Gary Plessl and Kevin Houser are the principals of Houser and Plessl Wealth Management Group. Both are registered Brokers with FINRA and have a number of years in the financial services industry and started their own firm. In 2009 after the financial crash I changed from Morgan Stanley to their firm which is servced by LPL Financial . My assets were tansferred without incident to their firm. I am a healthcare professional and not adept at financial tools and investment instruments. I had a substantial amount of funds from 401K & IRAs in a Prudential Annuity that was past the penalty phase and 6% annual guarantee, stock and cash. Gary Plessl suggested moving some money around to get guaranteed safety and returns so they were put in different funds. Shortly after these funds were transferred he arranged a meeting and made additional suggestions which I believed were in my fiduciary interest. Over time he transferred Qualified and Non-Qalified IRA funds to multiple annuities including switching the Prudential Annuity to an AXA Annuity offering less yearly return and a 7 year waiting period. It was only until a few years later when I was in my 60's that I suspected that there were some irregularities about his placement of my funds in Annuities which penalized my ability to have access to the funds. One instrument declined in my monthly payment withdrawal from $805 to $740. The AXA Annuity transfer caused me to receive less annual guaranteed growth and incur a $4,000.00 penalty on $100,000 because he did not exercise fiduciary oversight when he transferred the entire Prudential Annuity funds. My suspicions of improprieties were validated when I had discussions with at leaset 4 other Financial Planners. I was extremely disappointed that my financial future was not a priority with Houser and Plessl. I learned that the reason Gary Plessl switched funds to other annuities is because there is a substantial up front broker commission. It was explained that Plessl received a commision of $20,000.00 by switching my funds to AXA and other instruments. I have retained legal counsel and pursued legal action with FINRA against LPL Financial the brokerage which Houser and Plessl used. I encourage any investor or retiree to be extremely cautious when speaking with either of the partners or brokers in their firm and steer clear. It is clear to me that many private Wealth Management firms are focused on developing their wealth at the cost of their clients. If you feel that Houser and Plessl or any other firm have mismanaged your funds look into a law firm with expertise in FINRA litigation.
Houser & Plessl Wealth Management Reviews
Gary Plessl and Kevin Houser are the principals of Houser and Plessl Wealth Management Group. Both are registered Brokers with FINRA and have a number of years in the financial services industry and started their own firm. In 2009 after the financial crash I changed from Morgan Stanley to their firm which is servced by LPL Financial . My assets were tansferred without incident to their firm. I am a healthcare professional and not adept at financial tools and investment instruments. I had a substantial amount of funds from 401K & IRAs in a Prudential Annuity that was past the penalty phase and 6% annual guarantee, stock and cash. Gary Plessl suggested moving some money around to get guaranteed safety and returns so they were put in different funds. Shortly after these funds were transferred he arranged a meeting and made additional suggestions which I believed were in my fiduciary interest. Over time he transferred Qualified and Non-Qalified IRA funds to multiple annuities including switching the Prudential Annuity to an AXA Annuity offering less yearly return and a 7 year waiting period. It was only until a few years later when I was in my 60's that I suspected that there were some irregularities about his placement of my funds in Annuities which penalized my ability to have access to the funds. One instrument declined in my monthly payment withdrawal from $805 to $740. The AXA Annuity transfer caused me to receive less annual guaranteed growth and incur a $4,000.00 penalty on $100,000 because he did not exercise fiduciary oversight when he transferred the entire Prudential Annuity funds. My suspicions of improprieties were validated when I had discussions with at leaset 4 other Financial Planners. I was extremely disappointed that my financial future was not a priority with Houser and Plessl. I learned that the reason Gary Plessl switched funds to other annuities is because there is a substantial up front broker commission. It was explained that Plessl received a commision of $20,000.00 by switching my funds to AXA and other instruments. I have retained legal counsel and pursued legal action with FINRA against LPL Financial the brokerage which Houser and Plessl used. I encourage any investor or retiree to be extremely cautious when speaking with either of the partners or brokers in their firm and steer clear. It is clear to me that many private Wealth Management firms are focused on developing their wealth at the cost of their clients. If you feel that Houser and Plessl or any other firm have mismanaged your funds look into a law firm with expertise in FINRA litigation.
High fees
They charged high fees they tell me about, fast talkers beware, they destroyed my life.