Investors potentially experienced sales practice violations by securities broker Donald Trendley McKiernan [CRD: 1305965, Lake Bluff, Illinois], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. McKiernan worked for Landolt Securities Inc. beginning on November 8, 2005, as a securities broker and starting January 6, 2006, as a financial advisor. Investors are encouraged to continue reading to learn more about the disclosures involving McKiernan that were reported to FINRA.
Specifically, on October 27, 2025, a Landolt Securities Inc. client filed FINRA Arbitration No. 25-02309 concerning Donald McKiernan. Primarily, the client alleged that McKiernan made misrepresentations, was negligent, breached a contract, violated state securities laws, and breached his fiduciary duty. Because of this, the client allegedly incurred damages related to corporate bonds tied to a June 2020 GWG L Bond investment. As a result, the client requested between $100,000 and $500,000 in compensation from Landolt Securities Inc. or McKiernan. It appears that this arbitration remains pending a resolution.
Notably, a client of Landolt Securities Inc. contested Donald McKiernan’s supervisory practices, according to a written complaint dated December 31, 2022. Allegedly, McKiernan was negligent and failed to supervise certain representatives. It appears that McKiernan allegedly caused the client to incur damages. Consequently, the client sought compensation from Landolt Securities Inc. or McKiernan in the amount of $856,443. The complaint was denied, and the matter was closed on October 4, 2023.
Also, a Landolt Securities Inc. client filed FINRA Arbitration No. 22-02447 about Donald T. McKiernan. Mainly, the client alleged that McKiernan failed to supervise certain representatives and was negligent, and that he violated state securities laws. For this reason, the client allegedly sustained damages related to investments associated with L Bonds issued by GWG Holdings Inc. Therefore, on July 12, 2023, Landolt Securities Inc. settled this matter by paying the client $45,000 in damages.
Evidently, a client of Landolt Securities Inc. disputed Donald McKiernan’s sales practices by filing FINRA Arbitration No. 22-01529. Allegedly, McKiernan was negligent and failed to supervise certain representatives, and the client also asserted violations of state securities laws. It appears that McKiernan caused the client to sustain damages related to variable annuities, alternative investments, and custodial accounts for minors. As a result, Landolt Securities Inc. opted to settle the matter on September 29, 2023, by compensating the client in the amount of $225,000.
Do you have concerns or questions regarding investments you made with Donald McKiernan? You can contact Soreide Law Group at (888) 760-6552 or online and consult with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the US. Also, the firm works on a contingency fee basis and advances all costs. McKiernan and brokerage firms McKiernan worked for deny accusations of sales practice violations.
Robert Averwater (CRD 5614514) is a Memphis, Tennessee broker. FINRA fined him $10,000, suspended him from association with any member firm in all capacities for four months, and required him to complete 10 hours of continuing education, according to an AWC issued August 18, 2026.
Qi Yang (CRD 7439718) is a San Francisco, California broker. FINRA suspended him from association with any member firm in all capacities for six months and assessed a deferred fine of $5,000, according to an AWC issued August 10, 2026.
Thomas Jacobs (CRD 4139430) is a Bay City, Michigan broker. FINRA suspended him from association with any member firm in all capacities for two months and assessed a deferred fine of $2,500, according to an AWC issued August 3, 2026.
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