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Scott Aabel: GWG L Bond Complaint Against Premiere Retirement Advisor
Osprey, Florida financial advisor Scott Aabel (CRD# 1493667) has received an investor complaint alleging his recommendations of GWG L bonds resulted in six-figure losses. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with Spire Securities and Spire Wealth Management, doing business as Premiere Retirement Asset Management.
Mr. Aabel’s BrokerCheck report discloses several investor complaints. The most recent, filed in June 2022, alleges that as a representative of Spire Securities, he recommended an unsuitable investment in GWG L bonds. The pending complaint alleges damages of $500,000.
A second investor complaint, filed in June 2021, alleges that as a representative of SagePoint Financial and Investors Capital Corp., he provided poor advice regarding annuity withdrawals and recommended an unsuitable investment. The pending complaint alleges damages of $300,000.
A third investor complaint, filed in 2009, alleged that he charged investment advisory fees that “caused a partial loss of [the] living benefit rider.” The complaint reached a settlement of $6,447.68.
A fourth investor complaint, filed in 2005, alleged that he recommended unsuitable unregistered securities while a representative of Prime Capital Services. In 2006 the complaint reached a settlement of $117,000.
A fifth investor complaint, filed in 2004, alleged that he sold unsuitable and unregistered promissory notes while a representative of Prime Capital Services. In 2006 the complaint reached a settlement of $130,000.
According to the Financial Industry Regulatory Authority, Scott Aabel holds 31 years of securities industry experience. Based in Osprey, Florida, he has been registered as a broker with Spire Securities since 2016 and as an investment advisor with Spire Wealth Management since 2017. He does business as Premiere Retirement Asset Management. His past registrations include Investors Capital Corp., SagePoint Financial, Asset & Financial Planning, Prime Capital Services, and Lutheran Brotherhood Securities. His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Direct Participation Programs Representative Examination, or Series 22; 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 as a broker and an investment advisor in Florida. (Information current as of July 20, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. 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.