Sandy Schmidt is the Subject of Negligent Misrepresentation Allegations

Sandy Schmidt (CRD #: 1163559), a broker registered with The Leaders Group, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on March 28, 2024. Investors may also have engaged his services through Schmidt Financial Group. 

Investor Allegations 

On February 1, 2023, a complainant alleged that Sandy Schmidt violated the Illinois Consumer Fraud and Deceptive Business Practices Act. They further alleged negligent misrepresentation, a breach of fiduciary duty, and unjust enrichment. The investor is seeking $750,000. 

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Unjust enrichment also violates this rule. 

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Background Information 

Sandy Schmidt has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination
• Series 22 Direct Participation Representative Examination  
• Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered investment adviser in Illinois.

During his 40 years of experience, Sandy Schmidt has registered with ten firms. These are the four most recent: 

• The Leaders Group (CRD #: 37157) 
• Catalyst Wealth Management (CRD #: 283728)
• The Leaders Group (CRD #: 37157) 
• TLG Advisors (CRD #: 111052) 

Kurta Law Can Help 

If you have worked with Sandy Schmidt and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.