Mike Hoye: $280K GWG Complaint Against Ausdal Advisor

Schaumburg, Illinois financial advisor Mike Hoye (CRD# 3029864) recently received an investor complaint alleging that his conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Ausdal Financial Partners.

Mr. Hoye’s BrokerCheck report discloses one investor complaint. Filed in July 2024, it alleges that as a representative of Ausdal Financial Partners, he violated federal and state securities laws, breached contract, committed fraud, breached his fiduciary duty, and acted negligently in connection with an investment in GWG L Bonds. The pending complaint alleges damages of $280,000.

The website for Frolicstein Financial, which offers securities through Ausdal Financial Partners, includes a profile of Mr. Hoye that describes his background and experience. “[He] founded Integrity Financial Strategies after developing a passion for helping people simplify and understand all aspects of their financial life,” it explains. “Michael has enjoyed serving as a financial and retirement planning resource – helping his clients relieve the burden of managing their financial life on their own and making more informed decisions for themselves and their families.”

According to the Financial Industry Regulatory Authority, Mike Hoye holds 26 years of securities industry experience. Based in Schaumburg, Illinois, he has been registered as a broker and an investment advisor with Ausdal Financial Partners since 2009. His registration history includes Waterstone Financial Group (Schaumburg, Illinois; 2004-2009), Royal Alliance Associates (Scottsdale, Arizona; 2004), High Mark Securities (Lakeland, Florida; 2002-2004), World Group Securities (Duluth, Georgia; 2002), and WMA Securities (Duluth, Georgia; 1998-2002). His credentials include the passage of seven securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; 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 is licensed in Florida, Illinois, Iowa, Kentucky, New Hampshire, New York, Tennessee, Vermont, and Wisconsin. (Information current as of August 4, 2024.)

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