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Bret Schaefer Facing Allegations of Unsuitable Investments

Bret Schaefer (CRD #: 2577117), a broker registered with Woodbury Financial Services, is involved in two investor disputes, according to his BrokerCheck record, accessed on August 10, 2021.

On June 23, 2021, an investor alleged that Bret Schaefer executed unauthorized trades and recommended unsuitable alternative investments. Alternative investments are always riskier, and FINRA requires brokers to only recommend investments that fit their investor’s risk tolerance.

Just one month prior, on May 27, 2021, investors alleged that Bret Schaefer misrepresented the time horizon of alternative investments. The “time horizon” refers to how much time the investor is expected to keep their money in the investment.

Bret Schaefer Background Information

Schaefer has passed the following exams:

  • Series 65 Uniform Investment Adviser Law Examination
  • Series 63 Uniform Securities Agent State Law Examination
  • Securities Industry Essentials Examination
  • Series 7 General Securities Representative Examination
  • Series 24 General Securities Principal Examination

He is a registered broker in 15 states and is a registered investment adviser in Wisconsin.

Schaefer has worked for the following firms:

  • Woodbury Financial Services (CRD #: 421)
  • Ausdal Financial Partners (CRD #: 7995)
  • Landolt Securities (CRD #: 28352)
  • Linsco/ Private Ledger Corp. (CRD #: 6413)
  • C. Zieger and Company (CRD #: 61)
  • IDS Life Insurance Company (CRD #: 6321)
  • American Express Financial Advisors (CRD #: 6363)

Kurta Law Can Help

If you worked with Bret Schaefer and you have concerns about your investments, contact Kurta Law today. Call 212-658-1502 or email jkurta@kurtalawfirm.com.

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