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Jim Davis: GWG L Bond Complaints Against IFP/Grow Live Give Advisor
Franklin, Tennessee financial advisor Jim Davis (CRD# 4222532) recently received investor complaints alleging GWG L bond investment recommendations resulted in losses. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with IFP Securities and Independent Financial Partners, respectively, doing business as Grow Live Give.
Mr. Davis’s BrokerCheck report discloses two pending investor complaints. Filed in August and October 2022, the complaints both allege that as a representative of IFP Securities, he breached his fiduciary duty, breached contract, violated FINRA rules, and failed to disclose the risks associated with an investment in GWG L bonds. One of the complaints alleges damages of $250,000, while the other alleges damages of $100,000.
As the complaints explain, the allegations concern investments in L bonds issued by GWG Holdings, which has since filed for Chapter 11 bankruptcy. The disclosures state that an “internal investigation of facts” involved in the allegations was completed by the firm in December 2022, and found that “the term of the bond(s) in question and associated risks were appropriately reflected in person and via documentation provided to the client.” Mr. Davis and the firm have both denied the allegations and stated their intention “to rigorously contest the matter.”
According to the Financial Industry Regulatory Authority, Jim Davis holds 22 years of securities industry experience. Based in Franklin and Columbia, Tennessee, he has been a broker with IFP Securities since 2019 and an investment advisor with Independent Financial Partners since 2016. His past registrations include LPL Financial (Franklin, Tennessee; 2010-2019), Valic Financial Advisors (Brentwood, Tennessee; 2008-2010), and LPL Financial Corporation (Nashville, Tennessee; 2000-2008). His credentials include the passage of six securities industry qualifying exams: the General Securities Principal Examination, or Series 24; 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 holds 34 state licenses. (Information current as of January 8, 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.