Coast Capital Advisor Linda Wimsatt: L Bond Complaint

Carlsbad, California financial advisor Linda Wimsatt (CRD# 1401802) is the recipient of complaints regarding investments in GWG L bonds. Financial Industry Regulatory Authority records show that she is a broker with American Trust Investment Services and an investment advisor with Chicago Wealth Management Advisors, doing business as Coast Capital Wealth Management. 

Ms. Wimsatt’s BrokerCheck report discloses three investor complaints. The most recent, filed in September 2022, alleges that as a representative of Westpark Capital, she misrepresented and recommended unsuitable investments in GWG L bonds. The pending complaint alleges unspecified damages estimated to be more than $5,000. 

A second investor complaint, filed in March 2022, alleges that as a representative of Westpark Capital, she made misrepresentations regarding unsuitable investments in GWG L bonds. The pending complaint alleges damages of $100,001.

A third investor complaint, filed in 2010, alleged that as a representative of SagePoint Financial, she failed to disclose the liquidity risk associated with an REIT investment in which “the amount invested was not suitable.” The complaint reached a settlement of $12,000.

According to the Financial Industry Regulatory Authority, Linda Wimsatt holds 32 years of securities industry experience. Based in Carlsbad, California, she has been a broker with American Trust Investment Services since 2020 and an investment advisor with Chicago Wealth Management Advisors since 2021, doing business as Coast Capital Wealth Management. Her past registrations include Westpark Capital, VFF Securities, SagePoint Financial, SunAmerica Securities, Griffin Financial Services, Great Western Financial Securities Corporation, American Express Financial Advisors, IDS Insurance Company, Financial Network Investment Corporation, American Pacific Securities Corporation, American Express Financial Advisors, and SD Cohn & Company. Her credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; 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. She is licensed in Arizona, California, Florida, Georgia, and Tennessee. (Information current as of October 12, 2022.)

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