Close Menu
Free Consultation: 888-976-6111

Bret Schaefer: Complaint Against Woodbury Advisor Settled for $510K

Recent investor complaints against Antioch, Illinois financial advisor Bret Schaefer (CRD# 2577117) allege unauthorized trading, misrepresentations, and unsuitable investment recommendations. Financial Industry Regulatory Authority records show that he is a broker with Landolt Securities, having previously been registered with Woodbury Financial Services.

Mr. Schaefer’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in 2021, alleges that as a representative of Woodbury Financial Services, he “misrepresented the time horizon of alternative investments” sold from 2015 to 2019. The pending complaint alleges unspecified damages estimated to exceed $5,000.

An earlier investor complaint, filed in 2022, alleged that as a Woodbury Financial Services representative, he recommended an unsuitable variable annuity investment. In May 2023 the complaint reached a settlement of $53,114.

A third investor complaint, filed in 2021, alleged that as a Woodbury representative, he made unauthorized trades and recommended unsuitable alternative products. In 2022 the complaint reached a settlement of $510,000. In a statement included with the complaint’s disclosure, he wrote that a firm investigation concluded he did not make the trades in question.

According to the Financial Industry Regulatory Authority, Bret Schaefer holds 27 years of securities industry experience. Based in Antioch, Illinois, he has been a broker with Landolt Securities since 2021. His registration history includes Woodbury Financial Services (Greenville, Illinois; 2014-2021), Landolt Securities (Oshkosh, Wisconsin; 2006-2014), Ausdal Financial Partners (Oshkosh, Wisconsin; 2012), Linsco/Private Ledger Corporation (Fort Mill, South Carolina; 2005-2006), Citigroup Global Markets (New York, New York; 2002-2005), BC Ziegler & Company (Chicago, Illinois; 1996-2002), American Express Financial Advisors (Minneapolis, Minnesota; 1995), and IDS Life Insurance Company (Minneapolis, Minnesota; 1995). His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination,  or Series 65. He is licensed in Alabama, Arizona, Texas, and Wisconsin. (Information current as of June 24, 2023.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Bron Thompson: CIG Advisor Faces 6-Figure GWG Complaints

    Dunn, North Carolina financial advisor Bron Thompson (CRD# 4350479) has received multiple investor complaints relating to investments in GWG Holdings....

    Read More
  • Bilo Bouab: Garden State Advisor Receives 6-Figure Complaints

    Red Bank, New Jersey financial advisor Bilo Bouab (CRD# 4340284) has received multiple investor complaints alleging that his conduct resulted...

    Read More
  • Rich Ceffalio: $3.5mm Complaint Against Fired LPL Advisor

    Arlington Heights, Illinois financial advisor Rich Ceffalio (CRD# 2619565) was terminated from his former member firm in connection with alleged...

    Read More
  • Angelo Anello: Tailored Wealth Advisor Lands $84K Complaint

    Needham, Massachusetts financial advisor Angelo Anello (CRD# 2835091) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry...

    Read More
  • Previous
  • Next