January 20, 2026
Insurance Products
Investors who worked with Todd Allen Leightey (CRD #4409118) may have suffered losses in connection with variable annuity recommendations and other investment or insurance products. Recent regulatory actions and disclosures raise serious questions about whether certain recommendations were suitable and properly documented.
If you invested with Todd Leightey through a broker-dealer, investment advisory firm, or insurance platform and believe the investment never should have been recommended to you, you may have potential recovery options.
According to FINRA BrokerCheck, Todd Leightey has been registered as both a securities broker and an investment adviser representative, including registration with Northwestern Mutual Investment Services, LLC.
BrokerCheck disclosures reflect multiple regulatory actions and a customer dispute, which investors should carefully review when evaluating whether their own investments were appropriate.
FINRA records report that in a disciplinary action dated May 16, 2025, Mr. Leightey consented to findings (without admitting or denying them) that he recommended variable annuities to multiple customers without a reasonable basis to believe the transactions were suitable.
The disclosure describes recommendations made without proper consideration of factors such as age, liquidity needs, and investment time horizon. In one instance, more than half of a married couple’s net worth was reportedly concentrated in variable annuities. Another customer was recommended an annuity despite having no interest or need for the product’s specific features.
FINRA also reported that annuity applications contained inaccurate information regarding customer investment horizons and intended use of annuity features, causing the firm to maintain incorrect records.
Sanctions associated with the FINRA matter included a four-month suspension from June 16, 2025 through October 15, 2025, and a $5,000 fine.
BrokerCheck also reflects a Florida Department of Financial Services action initiated on November 21, 2025, which references similar allegations regarding unsuitable variable annuity recommendations and inaccurate documentation.
That Florida action lists a four-month suspension from November 21, 2025 through March 21, 2026.
In addition, an Ohio regulatory matter was initiated on December 29, 2025. BrokerCheck describes this as a Notice of Opportunity for Hearing and notice of intent to suspend or revoke licenses. The matter is listed as pending.
It is important to understand that a Notice of Opportunity for Hearing outlines allegations and does not necessarily result in a final disciplinary order.
Insurance-based investment products such as variable annuities are often complex, expensive, and misunderstood. In many cases, investors do not realize they are being placed into long-term insurance contracts rather than traditional investments. ChapmanAlbin has previously discussed how certain insurance products are sold as investment solutions despite significant risks and costs, which can lead to serious investor harm.
Investor-loss cases are rarely about market performance alone. The key questions are whether the investment was suitable for you, whether fees and restrictions were clearly explained, and whether the paperwork accurately reflects your goals, risk tolerance, and time horizon.
Investors considering action should begin gathering relevant documents, including annuity contracts, applications, account statements, and communications with the advisor.
If you or a family member invested with Todd Leightey (CRD #4409118) and suffered losses, an attorney can review your situation and explain potential recovery options, which may include FINRA arbitration depending on the facts.
Contact ChapmanAlbin for a confidential, no-obligation consultation.
Call ChapmanAlbin at (877) 410-8172
Attorney advertising. This is general information, not legal advice. Outcomes depend on the facts and documents in each case.
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