Bret Clinton Schaefer, Broker with Landolt Securities, Facing Pending Customer Dispute Alleging Unauthorized Trading and Unsuitable Investment Recommendations

INVESTORS: Landolt Securities broker Bret Clinton Schaefer was named in a customer dispute alleging unauthorized trading and unsuitable investment recommendations.

Bret Clinton Schaefer (CRD: 2577117) is currently registered as a broker with Landolt Securities, where he has been employed since October 2021. Previously, Schaefer was registered as a broker and investment adviser with Woodbury Financial from 2014 until 2021.

Schaefer has seven disclosures on his BrokerCheck report. Three customer disputes filed against Schaefer were denied and one customer dispute was closed with no action taken.

June 2021 Customer Dispute

• Status: Pending
• Allegations: Personal Representative alleges unauthorized trading and questions suitability of alternative investments.
• Damage Amount Requested: $5,000.00
• Broker Comment: I did not enter the trades for the client’s account which are the subject of the complaint. After investigation, Woodbury Financial concluded that I (Bret Schaefer) did not make those trades in the client’s account.

May 2021 Customer Dispute

• Status: Pending
• Allegations: Customers allege financial professional misrepresented the time horizon of alternative investments purchased between 2015 and 2019.
• Damage Amount Requested: $5,000.00
• Broker Comment: Filed without FP signature to avoid delay.

January 2001 Customer Dispute

• Status: Settled
• Allegations: In February 2000, Customer rolled over his retirement account into seven diversified mutual fund portfolios ranging from large cap to international small cap at the recommendation of Mr. Solowicz, an investment broker in Ziegler’s Appleton branch office. Mr. Schaefer was assigned the account shortly after the initial recommendation in March 2000. Customer alleges that subsequent market decline was due to the existing portfolio exceeding his risk tolerance.
• Damage Amount Requested: $179,500.00
• Settlement Amount: $9,000.00

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Bret Clinton Schaefer. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.