Tim Hassell: GWG L Bond Complaint Against Ex-WestPark Advisor

Whiting, Indiana financial advisor Tim Hassell (CRD# 2188768) allegedly made misrepresentations regarding a GWG L bond investment, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is currently registered as a broker with American Trust Investment Services, having previously affiliated with WestPark Capital.

Mr. Hassell’s BrokerCheck report discloses one investor complaint. Filed in May 2023, it alleges that as a representative of WestPark Capital, he breached his fiduciary duty, engaged in negligence, made negligent misrepresentations of material facts, breached contract, failed in his supervisory duties, and violated Regulation Best Interest in connection with an investment in GWG L bonds. The pending complaint alleges damages of $50,000.

Misrepresentation, for reference, describes a the provision of false or misleading information by a broker regarding an investment recommendation. Brokers may engage in fraudulent misrepresentation, in which the alleged misrepresentation is deliberately intended to mislead a customer into purchasing an investment, or they may engage in negligent misrepresentation, in which the alleged misrepresentation is the product of carelessness. Common forms of misrepresentation include those regarding an investment’s risk level: for example, a broker might describe a speculative, illiquid product as a conservative and safe investment, leading an investor to purchase it even though it’s unsuitable for their profile. Investors who suffer damages in connection with investments they made as the result of misrepresentation may be able to bring a claim against their broker.

According to the Financial Industry Regulatory Authority, Tim Hassell holds 28 years of securities industry experience. Based in Whiting, Indiana, he has been a broker with American Trust Investment Services since 2019. His past registrations include WestPark Capital (Newport Beach, California; 2016-2019), Newport Coast Securities (Irvine, California; 2008-2016), National Securities Corporation (Irvine, California; 2007-2008), Wedbush Morgan Securities (Los Angeles, California; 2007), Brookstreet Securities Corporation (San Juan Capistrano, California; 2002-2007), Hornblower & Weeks (New York, New York; 2001-2002), Meridian Capital Group (San Francisco, California; 1997-1998), Barron Chase Securities (Boca Raton, Florida; 1996-1997), Cruttenden Roth Incorporated (Newport Beach, California; 1993-1996), Prudential Securities Incorporated (New York, New York; 1992-1993), and Chatfield Dean & Company (Greenwood Village, Colorado; 1991-1992). 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 Investment Banking Registered Representative Examination, or Series 79TO; and the Uniform Securities Agent State Law Examination, or Series 63. He currently holds 36 state licenses. (Information current as of June 3, 2023.)

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