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Ryan Wieser: Moloney Advisor’s Client Invested in GWG L Bonds
At least one current or former customer of Moloney Securities advisor Ryan Wieser (CRD# 4940639) is listed as a creditor for investments in GWG L bonds, according to public records. Filed with a US bankruptcy court, these records disclose investments totaling $100,000. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Manchester, Missouri.
According to an April 2022 report by the Wall Street Journal, Dallas-based alternative asset manager GWG Holdings was known for issuing a product called “GWG L bonds,” which reportedly “pooled money from bond investors to purchase life-insurance policies on the secondary market.” The firm and investors would ostensibly profit when policyholders passed away and the policies paid out. GWG raised as much as $1.6 billion in its L bond offering, “mostly from individual investors,” then experienced a variety of financial troubles and filed for Chapter 11 bankruptcy in 2022. According to The DI Wire, GWG indicated in court filings that it was being probed by the Securities and Exchange Commission. To learn more about GWG L bonds, which were risky investments that may have been unsuitable for conservative investors, visit our resource here.
According to the Financial Industry Regulatory Authority, Ryan Wieser holds 18 years of securities industry experience. Based in Manchester, Missouri, he has been a broker and an investment advisor with Moloney Securities since 2005 and 2016, respectively. His 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. He currently holds 28 state licenses. (Information current as of July 3, 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.