Current Investigation

Ann Vanderslice, a/k/a Ann Werts has been named in a $250,000 FINRA arbitration claim brought by a customer alleging that Ms. Vanderslice made unsuitable investment recommendations and failed to do due diligence on new offerings, according to her FINRA BrokerCheck Report. Ann Vanderslice Complaint History The report shows that Ann Vanderslice has worked for ten different firms in her 16-year career as an investment adviser and has been the subject of three reportable events, including an employment separation following a customer’s allegation that Ms. Vanderslice misrepresented a variable annuity rider and forged the customer’s signature. Ann Vanderslice is currently registered through Madison Avenue Securities, LLC of Lakewood, Colorado and independent advisor AE Wealth Management, LLC. For seven years, Ms. Vanderslice was registered through Cabot Lodge Securities, LLC, also of Lakewood, Colorado. Ann Vanderslice also presently does business as “Federal Benefits Made Simple,” along with financial advisors Jason Johnson, Ashley Robinson, and Dan Werts. Ann Vanderslice is alleged to have sold [...]

As previously covered in this space, GWG Holdings, Inc., a financial services firm based in Dallas, Texas, filed for bankruptcy on Wednesday, April 20. The bankruptcy followed the company’s failures to make principal and interest payments on its L Bonds series and its missed deadlines to file audited financial statements for the past two years. GWG L Bonds shares have collapsed in the wake of the GWG Holdings bankruptcy filing. What are GWG Holdings L Bonds? GWG Holdings, through subsidiary GWG Life, LLC, owns life insurance policies. GWG Holdings used these policies to form investments called “L Bonds.” These L Bonds allowed investors to purchase life insurance policies on a secondary market, using payouts from the deaths of the insureds to pay investors. GWG Holdings L Bonds Collapse GWG Holdings’ L Bonds became popular with brokerage firms and financial advisors a few years ago, with many advisors soliciting their clients’ purchase of these bonds. According to Investment News, investors purchased a total of [...]