Brittani Corren Schaefer (also known as Brittani Corren Cooper), of St. Louis, Missouri, a stockbroker registered with Arete Wealth Management LLC, is the subject of a customer initiated investment related complaint on January 30, 2025, in which the customer requested $1,200,000.00 in damages based upon allegations that Schaefer made unsuitable investment recommendations when Schaefer was associated with Arete Wealth Management LLC.
This is not the first time that Schaefer has been referenced in a customer initiated investment related dispute concerning Schaefer’s conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Schaefer was the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $75,000.00 in compensatory damages because Arete Wealth Management LLC was held liable for sales practice violations. FINRA Arbitration No. 22-01337 (February 29, 2024). The Statement of Claim alleged that Schaefer negligently supervised certain representatives, made misrepresentations and omissions of material fact, breached a contract, committed fraud, violated Missouri Securities Act, and breached her fiduciary duties when Schaefer was associated with Arete Wealth Management LLC. Arete’s Public Disclosure does not disclose that this dispute arose from the recommendation and sale of GWG Holdings Class L Bonds. However, the Arbitration Award states: “The causes of action related to Claimant’s allegation that Respondent’s agent invested Claimant’s money and savings in an outrageously speculative security, GWG L Bonds,
which exposed Claimant to a complete loss.”
On September 17, 2024, a customer filed an investment related FINRA securities arbitration claim involving Schaefer’s conduct in which the customer requested $100,000.00 in damages based upon allegations that Schaefer made unsuitable recommendations in alternative investments. FINRA Arbitration No. 24-01937.
Schaefer was associated with Arete Wealth Management LLC in St. Louis, Missouri from September 11, 2020 to May 15, 2024.
