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Toddy & Associates’ Jim Toddy: $231K GWG L Bond Complaint
Scottsdale, Arizona financial advisor Jim Toddy (CRD# 2636687) allegedly recommended an unsuitable investment, according to an investor complaint against him. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Center Street Securities, doing business as Toddy & Associates.
Mr. Toddy’s BrokerCheck report discloses one investor complaint against him. Filed in June 2022, it alleges that he recommended an unsuitable transaction involving a GWG L bond in 2019. The pending complaint alleges damages of $231,014.45.
For reference, GWG L bonds are investment products described by the Wall Street Journal as assets that “pooled money from bond investors to purchase life-insurance policies on the secondary market.” The bonds were issued by GWG Holdings, an entity that reportedly entered Chapter 11 bankruptcy and disclosed in its filings that it was being investigated by the Securities and Exchange Commission. More information on GWG L bonds, and whether they were unsuitable investments for some investors, is available here.
According to his BrokerCheck report, Jim Toddy holds 26 years of securities industry experience. Based in Scottsdale, Arizona, he has been a broker with Center Street Securities since 2012 and an investment advisor with Center Street Advisors since 2015. He does business as Toddy & Associates. His past registrations include Brookstone Capital Management (Wheaton, Illinois and Scottsdale, Arizona; 2013-2015), Trustmont Financial Group (Greensburg, Pennsylvania; 2008-2012), ProEquities (Higley, Arizona; 2004-2007), First Financial Equity Corporation (Scottsdale, Arizona; 2001-2004), Sterling Financial Investment Group (Boca Raton, Florida; 2000-2001), and Joseph Charles & Associates (Boca Raton, Florida; 1995-2000). His credentials include the passage of four securities industry qualifying examinations: 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 Combined State Law Examination, or Series 66. He holds 32 state licenses. (Information current as of July 27, 2022.)
Carlson Law represents several investors involved in GWG L bond claims against financial advisors and investment firms throughout the United States. If you or a loved one have suffered losses investing in GWG L bonds, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.