When it comes to your money, trust is everything. And as any seasoned investor will tell you, not all financial advisors play by the same rules. Some offer sound guidance; others steer clients down a risky path. One name raising eyebrows recently? Todd Leightey, a broker affiliated with Northwestern Mutual Investment Services.
Let’s break this down like a good old-fashioned financial roadmap. We’ll cover his complaint history, what it means for everyday investors, and how to spot warning signs before handing over your life savings.
Todd Leightey: A Closer Look at the Complaint History
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Todd Leightey has been in the financial industry for over two decades. But even a long resume can’t erase a checkered past. According to FINRA BrokerCheck, here’s what stands out:
Disclosure Events:
- Regulatory Action (2025):
- FINRA suspended Leightey for 4 months and fined him $5,000.
- Why? He sold variable annuities that didn’t match client needs. One case involved a senior couple investing $100,000 without a clear understanding of the product.
- Customer Complaint (2022):
- Allegation: Failure to disclose a surrender charge of $10,365.
- Result: Northwestern Mutual offered a $6,000 goodwill waiver. No formal admission of guilt, but smoke often suggests fire.
What These Red Flags Mean
These aren’t just footnotes in a long career. These incidents raise serious concerns about suitability and transparency. If an advisor is recommending products that don’t match a client’s goals or risk tolerance, that’s a breach of trust—plain and simple.
Imagine being sold a car without being told it can’t go in reverse. That’s what poor financial advice can feel like.
Why Financial Advisors Matter (And When They Don’t)
A good financial advisor can be worth their weight in gold. They guide you through retirement planning, investment decisions, and major life transitions. They make sure your financial goals aren’t just dreams—they’re achievable.
But when bad apples show up, the consequences are real:
- Lost savings
- High-risk investments
- Hidden fees and penalties
- Legal and emotional stress
Advisors have a legal duty to act in your best interest. When they don’t, it’s not just wrong—it’s actionable.
How to Spot Red Flags in Advisors
Not every financial advisor with a smile and a fancy office has your best interests at heart. Here are a few signs to watch out for:
🔍 Common Red Flags:
- Multiple disclosures on FINRA BrokerCheck
- Recommending high-commission products like certain annuities
- Avoiding detailed explanations about fees or risks
- Pressure tactics to sign paperwork quickly
- Unwillingness to provide references or discuss previous client outcomes
It’s like dating. If someone won’t answer your questions or is vague about the past, consider that a giant red flag waving at full mast.
🧰 Use These Tools:
| Tool | What It Does |
|---|---|
| FINRA BrokerCheck | Lists complaints, regulatory actions, and exams passed |
| SEC Advisor Info | Shows Form ADV and other disclosures |
Common Complaints We Hear From Investors
At Haselkorn & Thibaut, we speak with frustrated investors every day. Here are just a few recurring themes:
- “I was told there’d be no penalties, but now I’m stuck paying thousands.”
- “They said it was a safe investment, but I lost half my retirement.”
- “The advisor didn’t explain the risks until after I signed.”
- “I had no idea they were making commissions off my decisions.”
Sound familiar? You’re not alone.
How Haselkorn & Thibaut Can Help
With over 50 years of combined legal experience, we’ve recovered millions for investors wronged by advisors. We know the playbook shady brokers use—and we know how to hold them accountable.
Whether you’re dealing with a bad annuity, hidden fees, or broken promises, we can help you understand your rights and pursue recovery.
Call Haselkorn & Thibaut today at 1-888-885-7162 for a free consultation. No obligation. Just straight talk from attorneys who know the system.
Final Thoughts
Todd Leightey’s case is a cautionary tale. One that reminds us all to dig deeper before we trust anyone with our hard-earned money. It’s your retirement. Your future. Don’t leave it in the hands of someone with a record of bad recommendations.
As the saying goes: Fool me once, shame on you. Fool me twice… better call Haselkorn & Thibaut.
