Investors have come forward with complaints about Bret Clinton Schaefer (also known as Bret Shaefer) [CRD: 2577117, Greenville, Wisconsin]. Evidently, the securities broker, who worked for Woodbury Financial Services Inc., discloses client disputes via Financial Industry Regulatory Authority (FINRA) BrokerCheck. For more on these suitability-related disclosures about Schaefer, see below. The broker denies the accusations against him.
Particularly, a Woodbury Financial Services Inc. client filed a complaint about Bret Schaefer. Namely, the client alleged that Schaefer made unsuitable recommendations. Because of this, the client allegedly sustained damages on variable annuities. Therefore, on May 24, 2023, Woodbury Financial Services Inc. settled this matter by paying the client $53,114 in damages.
Also, a client of Woodbury Financial Services Inc. contested Bret Schaefer’s sales practices by filing FINRA Arbitration: 21-02585. Allegedly, Schaefer made misrepresentations. It appears that Schaefer caused the client to sustain damages on direct investments and BDCs. Therefore, Woodbury Financial Services Inc. opted to settle the matter on April 21, 2023, by compensating the client in the amount of $30,000.
Specifically, a Woodbury Financial Services Inc. client filed FINRA Arbitration: 21-01594 about Bret Schaefer. Namely, the client alleged that Schaefer engaged in unauthorized trading and made unsuitable recommendations. Because of this, the client allegedly sustained damages on direct investments and stocks. Therefore, on December 16, 2022, Woodbury Financial Services Inc. settled this matter by paying the client $510,000 in damages.
Also, a client of Landolt Securities contested Bret Schaefer’s sales practices, according to a complaint dated June 2, 2021. Allegedly, Schaefer made misrepresentations. Supposedly, Schaefer caused the client to sustain damages on oil and gas investments. Therefore, the client asked for compensatory relief from Landolt Securities or Schaefer in the amount of $200,000 in this matter. However, the securities firm and broker denied this complaint.
Particularly, on February 2, 2017, a Landolt Securities client filed a complaint about Bret Schaefer. Namely, the client alleged that Schaefer engaged in unsuitable trading. Because of this, the client allegedly sustained damages on variable annuities. Therefore, the client requested $125,208 in compensation from Landolt Securities or Schaefer. However, the securities firm and broker denied this complaint.
Bret Schaefer worked for Woodbury Financial Services Inc. as a securities broker and financial advisor from September 2014 to October 2021.
Did you experience losses because of Bret Schaefer? If so, reach out to Soreide Law Group online or at (888) 760-6552 and speak with a securities lawyer concerning a potential recovery of your investment losses. Soreide Law Group, a firm that has recovered money for investors throughout the United States, represents clients on a contingency fee basis and advances all costs. Schaefer and brokerage firms Schaefer worked for deny any and all allegations of sales practice violations.
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