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Robert Barghini: Former Ausdal Advisor Faces GWG Complaint
At least one current or former customer of former Ausdal Financial Partners advisor Robert Barghini (CRD# 3141715) is listed as creditor for an investment in GWG L bonds, according to public records. Filed with a US bankruptcy court in Texas, these records describe investments totaling $200,000. Financial Industry Regulatory Authority records show that Mr. Barghini was most recently based in Maple Grove, Minnesota.
Mr. Barghini’s BrokerCheck report discloses one investor complaint. Filed in August 2022, it alleges that as a representative of Ausdal Financial Partners, he breached contract, failed to conduct adequate due diligence, and recommended an unsuitable investment in GWG L bonds. The pending complaint alleges damages of $50,000.
More information about GWG Holdings, whose sale of L bond products is under investigation by securities regulatory authorities, can be found here. Investors should be aware that investments in GWG L bonds, as their prospectus stated, came with significant risks, including the risk that investors might lose their entire principal. Brokers who unsuitably recommended these products to inexperienced and/or conservative investors may be liable for damages.
According to the Financial Industry Regulatory Authority, Robert Barghini holds 23 years of securities industry experience. He was most recently registered as a broker with Ausdal Financial Partners in Maple Grove, Minnesota from 2015 to 2022. His registration history includes the Oak Ridge Financial Services Group (Golden Valley, Minnesota; 2008-2015), Wells Fargo Investments (Bloomington, Minnesota; 2000-2008), Wells Fargo Brokerage Services (Minneapolis, Minnesota; 2000-2002), and Dean Witter Reynolds (Purchase, New York; 1998-2000). His credentials include the passage of four securities industry qualifying exams: 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 not currently licensed as a broker or an investment advisor. (Information current as of June 22, 2023.)
Carlson Law has represented at least nine investors in claims against their financial advisors for investments in GWG Holdings Inc. 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.