Karen Irene Schmidt (also known as Karen Irene Dry, Karen Irene Moore, and Karen Irene Scher), of Woodland Hills, California, a stockbroker registered with Northwestern Mutual Investment Services LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $400,000.00 in damages based upon allegations that Schmidt made the unsuitable investment recommendation of in annuities and life insurance products during the time that Schmidt was associated with Northwestern Mutual Investment Services LLC. FINRA Arbitration No. 24-00489 (March 11, 2024).
This is not the first time that Schmidt has been referenced in a customer initiated investment related dispute concerning Schmidt’s conduct in the securities industry. FINRA Public Disclosure shows that Schmidt is also referenced in a customer initiated investment related complaint that was settled on October 12, 2018, for $326,674.60 in damages based upon allegations that Schmidt committed fraud in connection with the sale of life insurance and annuity policies when Schmidt was associated with Northwestern Mutual Investment Services LLC.
Schmidt has been associated with Northwestern Mutual Investment Services LLC in Woodland Hills, California since August 11, 2010.
