Billy Aycock: GWG Complaints Against Aycock Wealth Advisor

Nashville financial advisor Billy Aycock (CRD# 4069907) has received 13 investor complaints involving investments in products including GWG L bonds. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Cabin Securities, doing business as Aycock Wealth Management.

Mr. Aycock’s BrokerCheck report discloses 13 investor complaints. The most recent, filed in February 2024, alleges that as a representative of Center Street Securities, he breached his fiduciary duty, breached contract, acted negligently, and violated securities law in connection with investments in a Hospitality REIT and GWG L Bonds. The pending complaint alleges damages of $200,000.

An earlier investor complaint, also filed in February 2024, alleges that as a Center Street Securities representative, he failed to conduct adequate due diligence, misrepresented and omitted material facts regarding a GWG L Bond investment, and failed to act in the claimants’ best interests. The pending complaint alleges damages of $100,000.

A third investor complaint, filed in January 2024, alleges that as a Center Street Securities representative, he recommended an unsuitable GWG L Bond investment and “falsely represented the investment as safe.” The pending complaint alleges damages of $1.05 million.

A fourth investor complaint, filed in January 2024, alleges that he he failed to conduct reasonable due diligence in connection with an unsuitable L Bond recommendation. The pending complaint alleges damages of $995,000.

In statements included with each of the complaints’ disclosures, Mr. Aycock defended himself against the allegations. “I deny all of the claims, and I did not know or have any interactions with the Claimant(s) in this case,” he wrote. “I also was not the supervisor for the transactions at issue. In sum, I was not involved and should not have been named as a Respondent in this case.”

Aycock Wealth Management’s website includes a profile of Mr. Aycock that describes him as the firm’s founder and owner, as well as a graduate of Samford University. “Upon graduating from Samford, Billy moved to Nashville and began work in the financial services industry,” it states. “This journey took him through several roles as well as several towns.  During those years of living in Nashville, TN, Atlanta, GA, Denver, CO and Birmingham, AL Billy gained deep levels of experience in sales, compliance and wholesaling.”

According to the Financial Industry Regulatory Authority, Billy Aycock holds 22 years of securities industry experience. Based in Nashville, Tennessee, he has been a broker and an investment advisor with Cabin Securities since 2023, doing business as Aycock Wealth Management. His past registrations include Center Street Securities (Nashville, Tennessee; 2013-2023), Arete Wealth Management (Nashville, Tennessee; 2021), Jackson National Life Distributors (Franklin, Tennessee; 2005-2012), Park Avenue Securities (New York, New York; 2003-2005), Quick & Reilly (Nashville, Tennessee; 2002-2003), AXA Advisors (Nashville, Tennessee; 2001-2002), and Quick & Reilly (New York, New York; 2000-2001). His credentials include the passage of six securities industry qualifying exams and he holds 26 state licenses. (Information current as of March 3, 2024.)

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