Bret Clinton Schaefer (also known as Bret Clinton Shaefer), of Greenville, Wisconsin, a stockbroker registered with Woodbury Financial Services Inc., was the subject of a customer initiated investment related complaint that was settled on May 24, 2023, for $53,114.00 in damages based upon allegations that Schaefer made unsuitable recommendations of variable annuities when Schaefer was associated with Woodbury Financial Services Inc.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Schaefer was referenced in seven other customer initiated investment related disputes concerning Schaefer’s conduct while associated with securities broker dealers. On May 21, 2001, a customer initiated investment related complaint involving Schaefer’s conduct was settled for $9,000.00 in damages based upon allegations that Schaefer engaged in unsuitable trading in mutual funds when Schaefer was associated with BC Ziegler Company.
On February 2, 2017, another customer filed an investment related complaint involving Schaefer’s conduct in which the customer requested $125,208.00 in damages based upon allegations that Schaefer made unsuitable recommendations of variable annuities during the time that Schaefer was associated with Landolt Securities Inc. The securities broker dealer denied this complaint.
Schaefer was also referenced in a customer initiated investment related complaint filed on June 2, 2021, in which the customer requested $200,000.00 in damages based upon allegations that Schaefer made misrepresentations of material fact in connection with the sale of oil and gas investments during the time that Schaefer was associated with Landolt Securities Inc. The firm denied this complaint.
On December 16, 2022, a customer initiated investment related FINRA securities arbitration claim involving Schaefer’s conduct was settled for $510,000.00 in damages based upon allegations that Schaefer made unsuitable recommendations and engaged in unauthorized trading in stocks and direct investments (LP interests and DPP interests) when Schaefer was associated with Woodbury Financial Services Inc. FINRA Arbitration No. 21-01594.
Schaefer was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $30,000.00 in damages based upon allegations that Schaefer made misrepresentations of material fact in connection with the sale of alternative investments during the time that Schaefer was associated with Woodbury Financial Services Inc. FINRA Arbitration No. 21-02585 (April 21, 2023).
Schaefer was associated with Woodbury Financial Services Inc. as a stockbroker and investment advisor representative between September 15, 2014, and October 13, 2021. Since October 15, 2021, he has been associated with Landolt Securities Inc.
