Investors apparently complained about securities broker Sanford Allen Schmidt (also known as Sandy Schmidt) [CRD: 1163559, Deerfield, Illinois], based on publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Schmidt has been employed with Catalyst Wealth Management since November 30, 2016, and The Leaders Group Inc. since April 13, 2023, with previous associations at The Leaders Group and TLG Advisors dating back to November 15, 2013. Read below to find out more about disclosures involving Schmidt’s conduct and the allegations tied to his work as a securities broker.
Evidently, on March 12, 2024, a Catalyst Wealth Management client filed Civil Action No. 2024CH01610 about Sanford Schmidt. Mainly, the client alleged that Schmidt recommended promissory notes resulting in damages. As a result, the client requested $1,000,000.00 in compensation from Catalyst Wealth Management or Schmidt. This civil suit is pending a resolution.
Specifically, a client of Catalyst Wealth Management disputed Sanford Schmidt’s sales practices, according to a complaint dated February 1, 2024. Allegedly, Schmidt committed misrepresentation, breach of fiduciary duty, and a violation of securities laws. It appears that Schmidt allegedly caused the client to sustain damages on private funds. For this reason, the client sought compensation from Catalyst Wealth Management or Schmidt totaling $750,000.00 in this matter.
Do you need clarification on any investment losses relating to Sanford Schmidt? You should reach out to Soreide Law Group online or at (888) 760-6552 and consult with a securities attorney about a possible recovery of your investment losses. Soreide Law Group helps to recover losses for clients throughout the country. The firm also works on a contingency fee basis and advances all costs. Schmidt and brokerage firms Schmidt worked for deny all allegations of sales practice violations.
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