Haselkorn & Thibaut, a leading national investment fraud law firm, has **opened an investigation into Lake Bluff, IL financial advisor Donald Trendley McKiernan** and his association with **Landolt Securities, Inc.** If you are an investor who worked with Mr. McKiernan, understanding his record, the recent complaints, and your potential rights is essential. This report provides an in-depth, balanced review for investors—giving you a clear path if you’ve suffered losses or simply want to protect your interests.
Who is Donald Trendley McKiernan?
Donald Trendley McKiernan (CRD# 1305965) is a registered stockbroker and financial advisor, currently serving as CEO of Landolt Securities, Inc. in Lake Bluff, IL. He has been registered with Landolt Securities since November 2005 and is authorized in multiple states. Over his multi-decade career, he’s held positions at several broker-dealers, including Oberweis Securities, Birkelbach Investment Securities, Robert A. Podesta & Co., and The Chicago Corporation. In addition, he is a managing partner at Nekimi Equity Growth Fund I LLC and holds multiple registrations as a General Securities Principal & Representative, Registered Options Principal, and Municipal Securities Principal/Representative.
Summary Table: Donald Trendley McKiernan at Landolt Securities (Lake Bluff, IL)
| Field | Value |
|---|---|
| Advisor Name | Donald Trendley McKiernan |
| Advisor CRD | 1305965 |
| Broker-dealer | Landolt Securities, Inc. |
| Location | 900 North Shore Drive, Suite 279, Lake Bluff, IL 60044 |
Key Background and Experience
- Over 35 years in the securities industry.
- Executive and compliance background as CEO and principal of Landolt Securities.
- Registered in multiple states; numerous supervisory licenses.
- Former affiliations include Oberweis Securities, Birkelbach Investment Securities, Robert A. Podesta & Co., and The Chicago Corporation.
Complaints and Red Flags
Recent high-profile customer arbitration filings have brought attention to Mr. McKiernan’s supervisory practices as CEO and principal at Landolt Securities.
- Allegations of Failure to Supervise: In 2022, two FINRA customer arbitrations named Mr. McKiernan as the responsible supervisor regarding the actions of a registered representative, Anthony Liddle. Both claims alleged that McKiernan failed to supervise Liddle, who was accused of misappropriating customer funds.
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Case Details and Settlements:
- FINRA Case No. 22-01529: Serviced in October 2022; alleged misappropriation of $498,000. Settled 09/29/2023 for $225,000.
- FINRA Case No. 22-02447: Served October 2022, related to alleged misappropriation of $110,000. Settled 07/12/2023 for $45,000.
- Written Customer Complaint received 12/31/2022: Alleged misappropriation of $797,000 with total damages stated at $856,443, asserting negligence/failure to supervise. This complaint was denied by the firm on 10/04/2023.
- No direct customer complaints or regulatory actions are currently reported against McKiernan individually, according to the latest FINRA BrokerCheck search.
Regulatory Expectations: FINRA’s Duty to Supervise & Suitability Rules
- Brokers and broker-dealers must maintain reasonable supervisory systems to detect and prevent misconduct.
- FINRA Rules 3110 and 2090: Require ongoing, diligent supervision by supervisory principals like McKiernan over their representatives’ conduct and customer accounts.
- Suitability (FINRA Rule 2111): Brokers must ensure that recommendations to customers are suitable and in the client’s best interests.
List of Customer Complaints and Disclosure Events
| Category | Status / Details |
|---|---|
| Customer Complaints | None directly against McKiernan |
| Customer-initiated Arbitrations | None individually; supervisory responsibility named in two settlements |
| Civil or Criminal Lawsuits | None reported |
| FINRA Disciplinary Actions | None reported |
| SEC Enforcement Orders/Actions | None reported |
| SEC Investigations | None reported |
Potential Investor Red Flags
- Supervisory Failures: If your advisor or the firm has a pattern of supervisory lapses, your investments may be at risk even if the individual advisor is not personally accused of wrongdoing.
- Arbitration Settlements: While settlements don’t equate to guilt, multiple customer settlements or allegations of firm-wide lapses can be a warning to scrutinize your accounts.
- Misappropriation Claims: Pay close attention if your funds or investments are not properly documented, or if you experience unexplained losses.
Steps Investors Should Take Now
- Review your account statements for unauthorized, suspicious, or unexplained transactions.
- Contact Haselkorn & Thibaut for a free, confidential review at 1-888-994-8066 – you pay nothing unless there is a recovery.
- Check your broker’s record—use FINRA BrokerCheck for ongoing updates and further disclosures.
- Preserve all communications, statements, and transaction history relating to your investments if you notice irregularities.
Why Haselkorn & Thibaut?
- Over 50 years of combined securities law experience.
- 98% success rate and millions recovered nationwide.
- No recovery, no fee—only pay if they win on your behalf.
Are You Concerned about Your Account with Donald Trendley McKiernan or Landolt Securities?
Haselkorn & Thibaut is actively reviewing cases involving Mr. McKiernan and Landolt Securities in Lake Bluff, IL. If you have questions, even if just for peace of mind, you can reach an experienced attorney now at 1-888-994-8066 for a no-obligation, complimentary consultation.
Your financial security deserves individual attention. Take the first step—review your account and speak with a dedicated investment fraud attorney at Haselkorn & Thibaut today.
