Financial Industry Regulatory Authority (FINRA) BrokerCheck shows disclosures about securities broker Karen Irene Schmidt (also known as Karen Irene Dry, Karen Irene Scher, and Karen Irene Moore) [CRD: 5669963, Woodland Hills, California]. Schmidt joined Northwestern Mutual Investment Services LLC (NMIS) on August 11, 2010. Recent investor claims about her involve allegations related to her recommendations. Keep reading to learn more about the allegations.
On March 11, 2024, a client of Northwestern Mutual Investment Services LLC filed FINRA Arbitration No. 24-00489, accusing Karen Schmidt of making unsuitable recommendations in annuities and life insurance products. The client asked for $400,000 in compensation, alleging that these recommendations resulted in damages. This matter is currently pending a resolution.
Additionally, Schmidt was involved in a prior client dispute, which settled on October 12, 2018. The client asked for compensation after accusing Schmidt of sales practice violations related to insurance and annuity sales.
For more information, contact Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney. Schmidt and Northwestern Mutual Investment Services LLC deny the allegations of unsuitable advice. Soreide Law Group has experience representing investors throughout the country. The firm handles cases on a contingency basis.
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