Close Menu
Free Consultation: 888-976-6111

Robert Gustafson: $110K GWG Complaint Against Moloney Advisor

Moloney Securities financial advisor Robert Gustafson (CRD# 5753473) allegedly recommended an unsuitable corporate bond investment, according to a recent investor complaint. Public records filed with a US bankruptcy court show that at least one current or former customer of his is listed as a creditor for a $110,000 GWG L bond investment. Financial Industry Regulatory Authority records show that he is based in Epping, New Hampshire.

Mr. Gustafson’s BrokerCheck report discloses one investor complaint. Filed in August 2022, it alleges that as a representative of Moloney Securities, he recommended an unsuitable corporate bond investment and acted negligently. The pending complaint alleges damages of $110,000. In a statement included with the disclosure, Mr. Gustafson defended himself against the complaint, writing: “I refute the allegations of the claims.”

Investors should be aware that FINRA rules stipulate that brokers like Mr. Gustafson to recommend only investments that are suitable for their customers’ investment profiles. Investments in GWG L bonds, which pooled investment money to purchase life insurance policies on the secondary market, may have been unsuitable for some investors, in particular those with conservative investment goals and limited experience.

According to the Financial Industry Regulatory Authority, Robert Gustafson holds 13 years of securities industry experience .Based in Epping, New Hampshire, he has been a broker and an investment advisor with Moloney Securities since 2015 and 2017, respectively. His past registrations include JP Turner & Company (Epping, New Hampshire; 2012-2015) and Edward Jones (Atkinson, New Hampshire; 2010-2012). 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 Combined State Law Examination, or Series 66. He is licensed in Alabama, California, Florida, Georgia, Maryland, Massachusetts, New Hampshire, New York, and North Carolina. (Information current as of June 20, 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.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Jaime Rios: Regulators Censure, Finr Money Concepts Advisor

    Corpus Christi financial advisor Jaime Rios (CRD# 1747126) was recently sanctioned by securities regulators in connection with alleged rule violations....

    Read More
  • Franz Koch: Unauthorized Trading Complaint Against Wells Fargo Advisor

    Boca Raton financial advisor Franz Koch (CRD# 4467954) allegedly made unauthorized transactions, according to a recent investor complaint. Financial Industry...

    Read More
  • Brian Shevland: FINRA Suspends Bluestone Capital Advisor

    Wayne, Pennsylvania financial advisor Brian Shevland (CRD# 4570496) was recently sanctioned and suspended in connection with alleged misrepresentations. Financial Industry...

    Read More
  • Jorge Menendez: $800K Complaint Against Citi Advisor

    Miami financial advisor Jorge Menendez (CRD# 5138358) recently received an investor complaint alleging that his conduct resulted in six-figure damages....

    Read More
  • Previous
  • Next