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Glenn Romer: $500K GWG L Bond Complaint Against Center Street Advisor
Vero Beach, Florida advisor Glenn Romer (CRD# 4841915) has received investor complaints alleging six-figure losses. Financial Industry Regulatory Authority records show that he is a broker with Center Street Securities.
Mr. Romer’s BrokerCheck report discloses two pending investor complaints. The most recent, filed in June 2022, alleges that he recommended an unsuitable investment in GWG L bonds. The pending complaint alleges damages of $250,000.
An earlier investor complaint, filed in May 2022, similarly alleges that Mr. Romer unsuitably recommended an investment in GWG L bonds. The pending complaint alleges damages of $100,000 to $500,000.
The Wall Street Journal reported in April 2022 that GWG Holdings was an alternative asset manager based in Dallas, Texas. It was known for a product it termed L bonds, “which pooled money from bond investors to purchase life-insurance policies on the secondary market.” The debts were reportedly repaid via the payouts issued when policyholders passed away. GWG raised roughly $1.6 billion “mostly from individual investors,” according to the Wall Street Journal, and later went into Chapter 11 bankruptcy. The DI Wire reported that GWG disclosed in its bankruptcy filings that the Securities and Exchange Commission was investigating, among other things, “how bonds were sold by brokers.” More information on GWG L bonds is available here.
According to the Financial Industry Regulatory Authority, Glenn Romer holds 17 years of securities industry experience. Based in Vero Beach, Florida, he has been a broker with Center Street Securities since 2010. He was formerly registered with Lincoln Financial Securities Corporation in Sea Girt, New Jersey from 2005 until 2010. His credentials include the passage of six securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Uniform Securities Agent State Law Examination, or Series 63; the Corporate Securities Limited Representative Examination, or Series 62; the Uniform Investment Adviser Law Examination, or Series 65; the Direct Participation Programs Representative Examination, or Series 22; and the Securities Industry Essentials Examination, or SIE. He is licensed in California, Florida, Georgia, New Jersey, New York, and North Carolina. (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.