FINRA fined securities broker Todd Leightley [CRD: 4409118, Upper Sandusky, Ohio], based on public information on FINRA BrokerCheck. Evidently, Leightley has worked for Northwestern Mutual Investment Services LLC since December 5, 2001, and for the same firm in his investment adviser capacity since April 19, 2006. Read below to discover more about the disclosures involving this securities broker.
FINRA Sanctioned Leightley For Unsuitable Recommendations
On May 16, 2025, FINRA finalized a disciplinary action in Case No. 2022075073501 against Todd Leightley. He agreed to a settlement that included a $5,000 fine and a four-month suspension from associating with any FINRA member in any capacity. The action stemmed from findings that Leightley made unsuitable recommendations involving variable annuities and maintained inaccurate records related to those transactions.
According to FINRA, between October 2020 and March 2021, Leightley recommended variable annuity purchases to three Northwestern Mutual Investment Services Inc. clients without a reasonable basis that the investments fit their financial circumstances. One case involved advising a senior couple to invest $100,000—more than half of their net worth—into a variable annuity, even though they needed short-term liquidity to assist family members. Another involved recommending a $6,000 annuity to a 33-year-old client whose retirement account already provided tax-deferred growth, making the annuity’s features unnecessary. FINRA further stated that Leightley submitted applications that inaccurately recorded clients’ intentions regarding annuitization, death benefits, and investment horizons, causing his firm to retain false information. These actions were deemed violations of FINRA Rules 2330, 4511, and 2010.
Northwestern Mutual Investor Accused Todd Leightley Of Omissions
Specifically, a client filed a complaint about Todd Leightley. Mainly, the client alleged that Leightley failed to disclose surrender charges associated with variable annuities. Because of this, the investor allegedly sustained damages. For this reason, on June 2, 2022, Northwestern Mutual Investment Services Inc. settled this matter by paying the client $6,000 in damages.
Were You Impacted By Financial Advisor / Securities Broker Leightley?
Are you concerned regarding investments you made with Todd Leightley? If so, 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. For years, Soreide Law Group has recovered losses for clients throughout the USA. The firm also works by a contingency fee arrangement and advances all costs. Leightley and brokerage firms Leightley worked for deny accusations referenced in public disclosures.
