Inflection Point Advisor Aaron Klemm: Clients Invested in L Bonds

Records filed with a US bankruptcy court show that at least four current or former customers of Independent Financial Partners advisor Aaron Klemm (CRD# 5621542) are listed as creditors for investments in GWG Holdings L bonds and/or preferred stock. The records describe investments totaling more than $400,000. Financial Industry Regulatory Authority records show that Mr. Klemm, a representative of Inflection Point Wealth Management, is based in Belmont, Michigan.

Dallas-based financial services firm GWG Holdings is known for a product known as “L bonds,” for which it raised investor funds to buy life insurance policies on the secondary market, allowing investors and GWG to profit when the policies pay out. The firm reportedly raised $1.6 billion from investors in L bonds, many of whom were retirees and other conservative investors. In 2020, GWG disclosed in a regulatory filing that it was undergoing financial difficulties, partly as a result of an SEC investigation into the company. In 2022, it filed for bankruptcy. If your financial advisor recommended GWG products that were unsuitable for your investment profile, you may be eligible to pursue a recovery. More information is available here.

According to the Financial Industry Regulatory Authority, Aaron Klemm holds 12 years of securities industry experience. Based in Belmont, Michigan, he has been a broker with IFP Securities since 2019 and an investment advisor with Independent Financial Partners since 2017. His past registrations include LPL Financial (Grand Rapids, Michigan; 2017-2019) and Merrill Lynch (Grand Rapids, Michigan; 2010-2017). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Colorado, Florida, Illinois, Indiana, Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, and Washington. (Information current as of June 4, 2023.)

Carlson Law has represented at least nine investors in claims against their financial advisors for investments in GWG Holdings Inc. 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.