Northwestern Mutual Investment Services

Broker Richard Wick in Northwestern Mutual Investment Services, LLC Firm Has Customer Complaint

October 13, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Wick (Wick), previously associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Wick recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on August 05, 2025.

Customer alleged that the Representative misrepresented the terms of a variable universal life insurance policy that was issued in May 2024, including the frequency of premium payments and policy loan provisions. Customer further alleged that he did not authorize a policy loan that was taken from a different variable universal life insurance policy purchased in 2022 and was misled by the Representative to believe that the funds the customer received were a refund for an overpayment made related to the policy issued in May 2024, when in fact the funds were proceeds from the policy loan from the 2022 policy.

There are Recent Customer Complaints with Broker Foti Kanos in Firm Northwestern Mutual Investment Services, LLC

September 12, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Foti Kanos (Kanos), currently associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Kanos recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $400,000.00 on April 04, 2023.

Claimant alleges that a recommendation to surrender a variable annuity to purchase a fixed annuity was not suitable based on the disputed claims that there were withdrawal penalties and that the future payments from the variable annuity would have been greater than the fixed annuity. Claimant further alleges that two other fixed annuities that Claimant purchased were not suitable for the Claimant’s investment needs due to a deferred income payment start date that resulted in a lack of current income. Claimant also alleges the recommendations resulted in excessive commissions.

There are Recent Customer Complaints with Broker Rajesh Shah in Firm Northwestern Mutual Investment Services, LLC

September 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Rajesh Shah (Shah), currently associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Shah recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $5,000.00 on April 06, 2023.

Customers alleged the sales process for the life insurance policies did not address their financial needs and goals.

There are Recent Customer Complaints with Broker Tek Wiegert in Firm Northwestern Mutual Investment Services, LLC

September 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Tek Wiegert (Wiegert), currently associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Wiegert recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $5,000.00 on April 06, 2023.

Customers alleged the sales process for the life insurance policies did not address their financial needs and goals.

Broker Raymond Brown in Northwestern Mutual Investment Services, LLC Firm Has Customer Complaint

September 4, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Raymond Brown (Brown), previously associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Brown recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on July 17, 2025.

Customer alleges that in or around June 2024, representative sold him a variable universal life insurance policy without the customer’s knowledge and without his understanding that a loan had been taken from his non-variable life insurance policy to pay the premium on the new variable policy. Customer alleges the representative misled him to believe that money from the non-variable policy that had been deposited into his account was a withdrawal of liquid cash value from the non-variable policy, not a loan, and that subsequent debits taken from the customer’s account were to return overpayments from the non-variable policy, not to make premium payments on the variable policy.

There are Recent Customer Complaints with Broker Brian Btesh in Firm Northwestern Mutual Investment Services, LLC

September 4, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Btesh (Btesh), previously associated with Northwestern Mutual Investment Services, LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Btesh recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $100,000.00 on March 12, 2025.

Fraud and misrepresentation.

There are Recent Customer Complaints with Broker Scott Taylor in Firm Northwestern Mutual Investment Services, LLC

August 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Scott Taylor (Taylor), previously associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Taylor recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $15,771.00 on June 30, 2023.

Customer alleges that in or around August 2021, the Representative failed to act in the customer’s best interests when the Representative recommended the customer purchase a variable universal life insurance policy that the customer alleges is not suitable for their needs and goals.

There are Recent Customer Complaints with Broker Michael Velez in Firm Northwestern Mutual Investment Services, LLC

August 26, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Velez (Velez), currently associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Velez recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $32,000.00 on July 13, 2023.

Customer alleged the Representative misrepresented a variable universal life insurance policy as an investment and alleged the policy was not suitable for the customer because of the premium obligations.

There are Recent Customer Complaints with Broker Todd Leightey in Firm Northwestern Mutual Investment Services, LLC

August 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Todd Leightey (Leightey), currently associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one regulatory event, alleging that Leightey recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on May 16, 2025.

Without admitting or denying the findings, Leightey consented to the sanctions and to the entry of findings that he recommended purchases of variable annuities to three customers without a reasonable basis to believe that the transactions were suitable based on the customers’ age, financial situation and needs, liquidity needs, and investment time horizon, among other factors. The findings stated that Leightey’s recommendation to a married couple, one of whom was a senior, to purchase a $100,000 variable annuity contract resulted in more than half of the customers’ net worth being invested in variable annuities. In addition, Leightey recommended another customer purchase a $6,000 variable annuity when the customer did not have any interest or need for the particular features of a variable annuity. The findings also stated that in connection with variable annuity applications submitted to his member firm for approval by a principal, Leightey inaccurately stated that these three customers intended to utilize the annuitization and death benefit features of the purchased variable annuities and misstated two customers’ intended investment horizons. This caused the firm to collect and maintain inaccurate information about these transactions and customers.

There are Recent Customer Complaints with Broker James Davis in Firm Northwestern Mutual Investment Services, LLC

August 16, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Davis (Davis), previously associated with Northwestern Mutual Investment Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Davis recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on June 11, 2025.

Customer alleges that, in or around November 2020, the representative positioned a variable universal life insurance policy as a tax-free alternative to an investment account and did not adequately explain when the policy would be issued or the premiums associated with insurance.