Investment fraud and unsuitable recommendations can devastate hardworking investors. We understand how overwhelming it feels to trust a professional only to question whether your financial future is truly secure. That is why Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers, has opened an independent investigation into Debra J. Schleining, a stockbroker and financial advisor based in Omaha, Nebraska, currently registered with McDermott Investment Services, LLC (CRD #2768752).
Who Is Debra J. Schleining?
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Debra J. Schleining, also known as Debra Jo Schleining and reportedly associated with names such as Deb J. Hinton and Debbie Turner, has functioned as a stockbroker and financial advisor for more than two decades. Her employment record includes the following:
- Current Employer: McDermott Investment Services, LLC
- DBA: Turner Investment Corporation, with a stated focus on Delaware Statutory Trusts (DSTs) and 1031 exchanges
- Previous Firms: Colorado Financial Service Corporation, Lighthouse Capital Corporation, J.P. Turner & Company, Berthel Fisher & Company, Mutual of Omaha Investor Services, Allstate Financial Services, and Lincoln Benefit Financial Services
- Primary Location: Omaha, Nebraska
- CRD Number: 2768752
- Public Profile: BrokerCheck
Recent Allegations and Complaint Involving a Delaware Statutory Trust
In February 2025, a customer of McDermott Investment Services filed a FINRA arbitration claim identified as Case No. 25-00239 involving Debra J. Schleining. The claim concerned a 2015 recommendation to invest in a Delaware Statutory Trust, or DST. According to the claim, the investment recommendation was unsuitable and did not perform as allegedly represented, with the customer seeking $1,580,000 in damages.
The matter concluded in November 2025 when the firm arranged for the sale of the DST investment to a private investor. The sale price was substantially less than the original investment amount, and no additional recovery was reportedly paid by McDermott Investment Services or Ms. Schleining. As a result, the customer allegedly sustained a significant loss.
Specific Allegations Raised Against Debra J. Schleining
The customer allegations in the arbitration involved several serious securities-related claims, including the following:
- Unsuitability: Recommending an investment that did not align with the client’s objectives, financial situation, or risk tolerance
- Inadequate Due Diligence: Alleged failure to properly investigate and understand the DST before recommending it
- Breach of Fiduciary Duty: Alleged failure to act in the client’s best interests
- Misrepresentations and Omissions: Alleged failure to fully disclose the investment’s risks, structure, or material facts
- Failure to Supervise: Allegation that the broker-dealer did not properly oversee the representative’s conduct
- Breach of Contract: Alleged failure to fulfill obligations owed to the investor
What Is a Delaware Statutory Trust?
A Delaware Statutory Trust (DST) is a legal structure often used for real estate investment programs, including some 1031 exchange transactions. Although DSTs can be appropriate in certain circumstances, they may also involve important risks such as limited liquidity, high fees, concentration risk, and reduced transparency. These products can be especially problematic for retirees or conservative investors if they are recommended without full disclosure or without regard to suitability.
Regulatory and Legal Background
According to the publicly available FINRA BrokerCheck profile for Debra J. Schleining (CRD #2768752), there may be limited or no publicly disclosed regulatory actions or customer dispute history currently visible. However, the arbitration matter described above may still warrant careful review by investors who purchased DSTs or other alternative investments through this advisor.
Red Flags and Recovery Risks
| Red Flag | Why It Matters to Investors |
|---|---|
| Unsuitable Recommendations | Brokers are expected to recommend only investments that fit an investor’s needs, objectives, and tolerance for risk. |
| Complex, Illiquid Products | DSTs and similar alternative investments may be difficult to sell and may expose investors to outsized losses. |
| Insufficient Risk Disclosure | If material facts are not fully explained, investors may be unable to make informed decisions. |
| Failure to Supervise | Brokerage firms have supervisory duties designed to prevent misconduct and protect customers. |
| Resolution Without Full Recovery | Even when a complaint is resolved, investors may still be left with substantial uncompensated damages. |
FINRA Rules That May Apply
- FINRA Rule 2111: Suitability
- FINRA Rule 3110: Supervision
If these or other securities industry rules were violated, investors may have the right to pursue recovery through FINRA arbitration.
Why Investors Contact Our Firm
Our firm includes former Wall Street defense lawyers with 95+ years of combined securities law experience. We have handled hundreds of investor claims and have been involved in securities matters totaling more than $520 million. We have earned Martindale-Hubbell AV Preeminent status, recognition from Super Lawyers, and strong client reviews.
We understand how brokerage firms defend these cases and use that experience to pursue claims on behalf of investors. In many matters, clients pay no legal fee unless there is a recovery.
Your Next Step: Free and Confidential Consultation
If you lost money investing with Debra J. Schleining of McDermott Investment Services, you may benefit from a prompt review of your legal options. Our attorneys offer a free and confidential consultation with no obligation.
Call 1-888-885-7162 now for a complimentary case review. The sooner you act, the sooner you can evaluate whether recovery may be available.
You do not have to face investment losses alone.
