John Dewitt: Ausdal Advisor Faces $100K GWG Complaint

Moline, Illinois financial advisor John Dewitt (CRD# 1999161) recently received an investor complaint alleging that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Ausdal Financial Partners.

Mr. Dewitt’s BrokerCheck report discloses one investor complaint. Filed in January 2024, it alleges that as a representative of Ausdal Financial Partners, he made a misleading and unsuitable recommendation to invest in a GWG L bond, and further that he was negligent in the completion of due diligence. (More information about GWG Holdings, which reportedly raised $1.6 billion from investors in its L bonds, filed for Chapter 11 bankruptcy, and is under investigation by the SEC, is available via this resource.) The pending complaint alleges damages of $100,000.

According to the Financial Industry Regulatory Authority, John Dewitt holds 33 years of securities industry experience. Based in Moline, Illinois, he has been registered as a broker and an investment advisor with Ausdal Financial Partners since 2006. His past registrations include Advanced Financial Planning (Smithtown, New York; 2005-2006), SPC (Bettendorf, Iowa; 2004-2005), Sammons Securities Company (Bettendorf, Iowa; 2002-2005),Woodbury Financial Services (Oakdale, Minnesota; 1994-2002), and MML Investors Services (Springfield, Massachusetts; 1989-1994). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, Illinois, Iowa, and Tennessee. (Information current as of January 30, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.