Chad T. Mackland of Omaha Nebraska a stockbroker formerly registered with Northwestern Mutual Investment Services is the subject of a customer initiated investment related arbitration claim in which the customer requested $2,871,000.00 in damages based upon allegations that a fiduciary duty that was owed to the customer had been breached and that the customer had been defrauded by investing through Mackland while he was registered with Northwestern Mutual Investment Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01193 (Apr. 16, 2020). According to the AWC, false and misleading representations had been made to the customer. The claim also alleges that the customer received unsuitable investment recommendations and that the stockbroker churned the customer’s account.
FINRA Public Disclosure also confirms that Mackland has been twice terminated by securities broker dealers. He was terminated by Northwestern Mutual Investment Services on August 1, 2016 when he was internally probed as to his sales practices. He was discharged by MassMutual on September 4, 2018 founded on accusations that misrepresentations were made by Mackland as it pertained to life insurance policies sold to MassMutual customers.
Between December 12, 2018 and February 25, 2020, he was associated with Lion Street Financial LLC.