Columbus, Ohio financial advisor Tom Bates (CRD# 1037294) allegedly gave misleading investment advice, according to a recent investor complaint. Financial...Read More
Dan Lundquist: $50K-$100K GWG Complaint Against Ausdal Advisor
Elgin, Illinois financial advisor Dan Lundquist (CRD# 2784929) recently received an investor complaint alleging that he breached his fiduciary duty and misrepresented material facts regarding an investment in GWG L bonds. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Ausdal Financial Partners.
Mr. Lundquist’s BrokerCheck report discloses one investor complaint. Filed in September 2023, it alleges that as a representative of Ausdal Financial Partners, he breached his fiduciary duty, acted negligently, negligently misrepresented material facts, breached contract, and violated the SEC’s Regulation Best Interest in connection with an investment in GWG L bonds. The pending complaint alleges damages between $50,000 and $100,000.
Investors should be aware that the “misrepresentation” of material facts regarding investments is forbidden by industry standards FINRA Rule 2020, which states that no broker shall “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Brokers who misrepresent information regarding their investment recommendations may be held liable for damages in the event of losses.
According to the Financial Industry Regulatory Authority, Dan Lundquist holds 27 years of securities industry experience. Based in Elgin, Illinois, he has been a broker and an investment advisor with Ausdal Financial Partners since 2011. His registration history includes LPL Financial (Northbrook, Illinois; 2010-2011), NRP Financial (Northbrook, Illinois; 2006-2010), AXA Advisors (Northbrook, Illinois; 1996-2006), the Equitable Life Assurance Society of the United States (New York, New York; 1996-2000), and Citicorp Investment Services (Long Island City, New York; 1996). His credentials include the passage of four securities industry qualifying exams: 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 currently holds 20 state licenses. (Information current as of September 25, 2023.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. 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.