Dave Smith: Intervest Advisor Faces $213K GWG Claim

Colorado Springs financial advisor Dave Smith (CRD# 850797) is involved in an investor complaint alleging he recommended unsuitable GWG L bonds and violated state and federal securities laws. Records maintained by the Financial Industry Regulatory Authority show that he is a broker and an investment advisor with Intervest International Equities Corporation.

Mr. Smith’s BrokerCheck report discloses one investor complaint. Filed in March 2023, the complaint alleges breach of fiduciary duty, violation of state and federal securities laws, breach of contract, common law fraud, supervisory failures, misrepresentations and omissions of material facts, and the recommendation of unsuitable investments in GWG L bonds. The pending complaint alleges damages of $701,211.32. A statement included with the complaint’s disclosure notes that it concerns multiple representatives, adding that the alleged damages against Mr. Smith are $213,662.38 of the total alleged damages.

According to the Financial Industry Regulatory Authority, Dave Smith holds 44 years of securities industry experience. Based in Colorado Springs, Colorado, he has been a broker and an investment advisor with Intervest International Equities Corporation since 1995 and 2005, respectively. His prior registrations include Intervest International Equities (1988-1995), Security Distributors (1987-1989), Integrated Resources Equity Corporation (1987-1988), Financial Planners Equity Corporation (1981-1987), and Cornerstone Financial Services (1978-1981). His credentials include the passage of six securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Registered Representative Examination, or Series 1; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Operations Professional Examination, or Series 99TO; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Colorado, Florida, Illinois, Iowa, Maine, Michigan, Missouri, Nevada, New York, North Carolina, Pennsylvania, Virginia, and Wisconsin. (Information current as of April 1, 2023.)

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