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John Lancaster: Ausdal Advisor Has GWG L Bond Complaint
Glen Ellyn, Illinois financial advisor John Lancaster (CRD# 1293652) recently received an investor complaint alleging he provided misleading information 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. Lancaster’s BrokerCheck report discloses one investor complaint against him. Filed in July 2022, the complaint alleges that as a representative of Audal Financial Partners, he breached his fiduciary duty, recommended an unsuitable investment in GWG L bonds, misrepresented material facts regarding the investment, and failed in his supervisory duties. (More information about L bonds issued by GWG Holdings, which has since filed for bankruptcy and come under investigation by the SEC, is available here.) The pending complaint alleges damages of $75,000.
According to the Financial Industry Regulatory Authority, John Lancaster holds 37 years of securities industry experience. Based in Glen Ellyn, Illinois, he has been a broker and an investment advisor with Ausdal Financial Partners since 2010. His past registrations include Waterstone Financial Group (Glen Ellyn, Illinois; 2002-2009), Lifemark Securities Corporation (Rochester, Illinois; 2001-2002), Linsco/Private Ledger Corporation (Fort Mill, South Carolina; 2000-2001), Park Avenue Securities (New York, New York; 1993-2000), Guardian Investor Services Corporation (New York, New York; 1992-1999), and Capital Analysts (Cincinnati, Ohio; 1984-1992). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in California, Colorado, Florida, Idaho, Illinois, Indiana, Missouri, North Carolina, Washington and Wisconsin. (Information current as of September 1, 2022.)
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