According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) former advisor Jeffrey Schwebach (Schwebach), formerly associated with Independent Financial Group, LLC (Independent Financial) in Dell Rapids, South Dakota was terminated by the firm. In June 2018 Schwebach was discharged after the firm claimed that he failed to accurately describe the nature of his outside business activities (OBAs) and also violated firm policy with regard to disclosure of customer complaint. There are no other public disclosures on Schwebach’s record.
At this time it is unclear the nature or scope of the alleged OBAs and if such activity included private securities transactions. Schwebach’s public disclosures show that he has disclosed numerous OBAs including The Cartwright Bros, a landlord rental business, 50% owner of Schwebach Financial – a d/b/a company. In addition, Schwebach has disclosed he is a radio DJ for Backyard Broadcasting, 50% owner of Dells Mini Storage, 20% owner of Schwebach Family Partnership, and instructor for a retirement course, board member of Planning Life, and a radio DJ ofr Midwest Communications, among other disclosures.