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.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
Peter Po's most recent settlement came on June 28, 2026, when a corporate bond claim settled for $40,000. Po (CRD 3106974) appears in several settled customer disputes over corporate and high-yield bonds. The disclosures name NI Advisors or California Securities as the firm, and each matter ended in a settlement, not a finding.
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