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Chris Wright: GWG L Bond Complaint Against Center Street Advisor
Prescott, Arizona financial advisor Chris Wright (CRD# 4134973) has received investor complaints alleging that his investment advice led to six-figure losses. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with Center Street Securities and Wright Wealth Management Group, respectively.
Mr. Wright’s BrokerCheck report discloses several investor complaints. The most recent, filed in June 2022, alleges that as a representative of Center Street Securities, he recommended an unsuitable investment in GWG L bonds. The pending complaint alleges damages of $135,000.
An earlier complaint, filed in 2020, alleged that he executed an annuity rollover against the client’s wishes. The complaint settled with the annuity company’s return of the customer’s funds and unwinding of the annuity.
A third investor complaint, filed in 2019, alleged that as a representative of Center Street Securities, Mr. Wright “mishandled” the customers’ assets by failing to properly allocate and diversify their retirement portfolios. In 2021 the complaint reached a settlement of $36,000.
In a statement on the 2019 complaint’s disclosure, Mr. Wright wrote that he “vehemently” denied any allegations of wrongdoing. “All of the investment recommendations – including the many profitable ones – that I made for the clients were suitable for them based on their investment profile and the information reasonably available at the time of the recommendations,” he wrote, adding: “The Firm made a business decision to resolve this matter by way of settlement, for an amount that was less than the fees and costs necessary just to defend this matter through a final hearing, and the Firm (and I) expressly deny any liability to the clients whatsoever in connection with that settlement.”
According to the Financial Industry Regulatory Authority, Chris Wright holds 22 years of securities industry experience. Based in Prescott, Arizona he has been a a broker with Center Street Securities since 2010 and an investment advisor with Wright Wealth Management Group since 2014. His past registrations include Multi-Financial Securities Corporation, Linsco/Private Ledger Corp., and H.D. Vest Investment Services. His credentials include the passage of six securities industry qualifying examinations: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; 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 Alabama, Alaska, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Michigan, Nevada, Ohio, Oregon, Texas, Utah, Washington, and Wisconsin. (Information current as of July 11, 2022.)
Carlson Law represents several investors involved in GWG L bond claims against financial advisors and investment firms throughout the United States. If you or a loved one have suffered losses investing in GWG L bonds, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.