Chris Pelley: Did Apollon Wealth Advisor Recommend GWG L Bonds?

At least six current or former clients of Denver financial advisor Chris Pelley (CRD# 1609191) are listed as creditors for investments in GWG Holdings L bonds and/or preferred stock, according to public records. Filed with a US bankruptcy court in Texas, the records describe investments totaling more than $800,000. Financial Industry Regulatory Authority records show that Mr. Pelley is currently a broker with Purshe Kaplan Sterling and an investment advisor with Apollon Wealth Management, having previously been registered with Moloney Securities.

The Wall Street Journal reported in 2022 that GWG Holdings, a Dallas asset manager known for L bonds, filed for Chapter 11 bankruptcy after experiencing various financial difficulties and receiving scrutiny from the Securities and Exchange Commission. The DI Wire reported further that that the firm disclosed in bankruptcy filings that the SEC was specifically investigating its L bond sales, focusing on “how bonds were sold by brokers.” More information on GWG L bonds, and whether they may have been unsuitable investments, is available here.

According to the Financial Industry Regulatory Authority, Chris Pelley holds 41 years of securities industry experience. Based in Denver, Colorado, he has been a broker with Purshe Kaplan Sterling since 2022 and an investment advisor with Apollon Wealth Management since 2021. His past registrations include Moloney Securities (Greenwood Village, Colorado; 2016-2021), RBC Capital Markets (Greenwood Village, Colorado; 2014-2016), Capital Investment Management (Denver, Colorado; 1999-2015), First Allied Securities (Denver, Colorado; 2010-2014), Securities Service Network (Denver, Colorado; 2002-2010), Securities America (La Vista, Nebraska; 1995-2002), Linsco/Private Ledger Corporation (Fort Mill, South Carolina; 1993-1995), Financial Network Investment Corporation (El Segundo, California; 1993), Multi-Financial Securities Corporation (Greenwood Village, Colorado; 1992-1993), FBS Investment Services (Saint Paul, Minnesota; 1991-1992), Lehman Brothers (Atlanta, Georgia; 1987-1989), Consolidated Investment Services (1985-1987), Integrated Resrouces Equity Corporation (1983-1985), Financial Planners Equity Corporation (1983), and ManEquity (1981-1982).

Mr. Pelley’s credentials include the passage of eight securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Direct Participation Programs Representative Examination, or Series 22; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Operations Professional Examination, or Series 99TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, Colorado, Florida, Iowa, Kansas, Minnesota, Nebraska, Nevada, New Mexico, North Carolina, Pennsylvania, South Carolina, South Dakota, Texas, Utah, Virginia, Washington, and Wisconsin. (Information current as of June 12, 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.