Carl Gill: $100K Investor Complaint Against Asset Preservation Advisor

Troy, Michigan financial advisor Carl Gill (CRD# 1076361) has received investor complaints alleging fraud, negligence, and other forms of misconduct. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that he is an investment advisor with Asset Preservation Capital and was formerly a broker with United Planners’ Financial Services of America.

Carl Gill’s BrokerCheck report discloses seven investor complaints. The most recent was filed in 2021, alleging that as a representative of United Planners Financial Services, he breached his fiduciary duty, made unsuitable investment recommendations, committed fraud, violated FINRA rules, breached contract, and made fraudulent misrepresentations and omissions. The pending complaint, which relates to an alternative investment product, alleges unspecified damages.

An earlier complaint, filed in 2021, alleges that as a representative of United Planners Financial Services, he violated federal securities laws, violated the Michigan Uniform Securities Act, violated the Michigan Consumer Protection Act, breached contract, committed common law fraud, breached his fiduciary duty, and engaged in negligence. The pending complaint alleges damages of $100,001. In a statement on the disclosure, Mr. Gill wrote that he “denies any claims of misconduct.”

A complaint filed in July 2021 alleges that Mr. Gill recommended unsuitable investments, committed fraud, breached contract, breached his fiduciary duty, made unauthorized trades, and engaged in negligence. The pending complaint alleges unspecified damages. 

A fourth pending complaint, filed in April 2021, alleges that Mr. Gill was negligent, breached his fiduciary duty, committed fraud, and breached contract with respect to annuity and real estate investments. In January 2022 the complaint reached a settlement of $65,000.

A complaint filed in February 2021 alleged negligence, gross negligence, misrepresentations and omissions, breach of contract, and “wrongful conduct,” reaching a settlement of $35,000. Another 2021 complaint alleged the same causes of action, reaching a settlement of $37,500.

Mr. Gill’s BrokerCheck report additionally discloses his 2015 resignation from United Planners Financial Services. According to the disclosure, he was “permitted to resign” over allegations he made discretionary trades in a non-discretionary account. “I vigorously deny any and all allegations,” he stated in a comment on the disclosure, adding: “I am now aggressively working to have this matter expunged from my record.”

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Carl Gill holds 37 years of securities industry experience. Based in Troy, Michigan, he has been an investment advisor with Asset Preservation Capital since November 2019. His past registrations include United Planners Financial Services, Professional Asset Management, Leonard & Company, Vestax Securities Corporation, First of Michigan Corporation, and Dean Witter Reynolds. He is not registered as a broker; he is registered as an investment advisor in Michigan. (Information current as of June 16, 2022.)

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