Northwestern Mutual Investment Services

There are Recent Customer Complaints with Broker Karen Schmidt in Firm Northwestern Mutual Investment Services, LLC

June 19, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Karen Schmidt (Schmidt), currently associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Schmidt 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 $400,000.00 on March 11, 2024.

Customers allege that in or around May 2018, the Representative sold them unsuitable non-variable life insurance policies and a fixed annuity, and that the Representative did not inform them of the illiquid nature of the annuity. Customers also allege that the representative initiated a transfer from a brokerage account without their knowledge to fund the fixed annuity.

There are Recent Customer Complaints with Broker Raymond Brown in Firm Northwestern Mutual Investment Services, LLC

June 18, 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 settled customer complaint with a damage request of $14,396.00 on April 15, 2025.

Customer alleges that the variable universal life insurance policy the Representative recommended in or around March 2024 was not suitable for the customer’s goals.

There are Recent Customer Complaints with Broker Joseph Ward in Firm Northwestern Mutual Investment Services, LLC

June 9, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on January 08, 2024.

Time Frame: October 16th 2023 to October 23rd 2023 What were the allegations against the individual? Client verbally alleged the instruction to tender his shares in his stock option account were not followed or actioned.

There are Recent Customer Complaints with Broker Phillip Pickett in Firm Northwestern Mutual Investment Services, LLC

June 5, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on February 05, 2024.

Customer alleges that the investment selections in a managed investment advisory account that was recommended in or around October 2021, are unsuitable. The customer is unhappy with the performance of the account, the proceeds of which, were intended to fund a life insurance plan.

Broker Jeffrey Peterson in Northwestern Mutual Investment Services, LLC Firm Has Customer Complaint

June 5, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on February 05, 2024.

Customer alleges that the investment selections in a managed investment advisory account that was recommended in or around October 2021, are unsuitable. The customer is unhappy with the performance of the account, the proceeds of which, were intended to fund a life insurance plan.

Broker Christopher Weeks in Northwestern Mutual Investment Services, LLC Firm Has Customer Complaint

June 3, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Weeks (Weeks), previously associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Weeks 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 $800,000.00 on February 14, 2024.

Claimant alleges breach of fiduciary duty, negligence, and violations of the Kansas Securities Act for options trading from June 2018 through June 2023.

Broker James Davis in Northwestern Mutual Investment Services, LLC Firm Has Customer Complaint

May 21, 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 one disclosable event. These events include one customer complaint, alleging that Davis 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 $33,840.00 on March 06, 2025.

Customers allege that in or around April 2023, in the course of their purchasing two variable universal life insurance policies from the Representative and another representative, misrepresentations were made regarding the costs associated with the policies.

There are Recent Customer Complaints with Broker David Miller in Firm Northwestern Mutual Investment Services, LLC

May 20, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on March 14, 2025.

Client alleges that in March 2024, her representative changed her account settings by changed her dividends and capital gains from cash to reinvest without her permission.

There are Recent Customer Complaints with Broker Richard Wick in Firm Northwestern Mutual Investment Services, LLC

May 15, 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 2 disclosable events. These events include 2 customer complaints, alleging that Wick 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 $300,000.00 on April 07, 2025.

Customer alleges that in or around May 2024 he agreed to purchase one non-variable life insurance policy and was misled by the Representative to believe that additional funds were going toward two different investments the Representative presented to the customer. Customer alleges that two additional life insurance policies were established instead, without the customer’s knowledge and consent. Customer believes that the Representative presented fabricated graphs, charts, and information showing accounts performing at certain growth rates.

There are Recent Customer Complaints with Broker Raymond Brown in Firm Northwestern Mutual Investment Services, LLC

May 15, 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 settled customer complaint with a damage request of $50,000.00 on April 04, 2025.

Customers allege that in or around July 2023, the Representative recommended they exchange non-variable life insurance policies for variable universal life insurance policies and that they would be able to access the full cash value of the variable policies immediately.