Luke Kloosterman Fired from Thrivent Investment Management

Luke Kloosterman (CRD #: 7140599), a broker formerly registered with Thrivent Investment Management, was fired from that firm, according to his BrokerCheck record, accessed on May 15, 2025. If you have questions about his alleged conduct as a broker, keep reading.

Termination from Thrivent Investment Management

On February 26, 2025, Luke Kloosterman was fired from Thrivent Investment Management following allegations that he violated firm policies concerning certain speaking engagements and the use of unapproved channels for electronic communications.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Investor Dispute

On December 16, 2024, an investor alleged that Luke Kloosterman failed to disclose the surrender charges associated with a Variable Universal Life (VUL) insurance contract purchased in May 2022. He allegedly also failed to explain the terms of the surrender charges, including how long they would apply. This dispute was settled for $56,742.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. This includes the misrepresentation or omission of information relating to investments, such as their fees, charges, and potential risks and returns.

What are VULs?

Variable Universal Life insurance policies (VULs) have two notable features: a tax-free death benefit for beneficiaries and investment of a portion of premiums. However, returns depend on the performance of these investments, so the policy is not guaranteed to increase in value. Additionally, VULs are often at risk of lapsing, which negates their purported tax benefits.

Background Information

Luke Kloosterman has passed the following exams:

• General Securities Representative Examination – Series 7TO
• Securities Industry Essentials Examination – SIE
• Uniform Combined State Law Examination – Series 66

He previously worked for Thrivent Investment Management (CRD#:18387).

Kurta Law Can Help

If you worked with Luke Kloosterman and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.