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Trine Andersen: Did Valic Advisor Recommend GWG?

At least one current or former client of Valic Financial advisor Trine Andersen (CRD# 5206252) is listed as a creditor for an investment in GWG L bonds, according to public records. Filed in a bankruptcy court in Texas, these records describe an investment of $88,000. Financial Industry Regulatory Authority records show that she is based in Tampa, Florida.

Investors should be aware that FINRA Rule 2111 stipulates that brokers may only recommend investments when they “have a reasonable basis to believe a recommended transaction or investment strategy involving a security or securities is suitable for the customer.” As GWG Holdings stated in its prospectus for its “L bond” products, these life settlement-backed debentures involved “significant risks, including the risk of losing your entire investment, and may be considered speculative.” The company filed for bankruptcy in April 2022, after raising more than $1 billion in funds from investors. Brokers who recommended these investments to conservative and/or inexperienced investors may be liable for damages.

According to the Financial Industry Regulatory Authority, Trine Andersen holds 14 years of securities industry experience. Based in Tampa, Florida, she has been a broker and an investment advisor with Valic Financial Advisors since 2019 and 2020, respectively. Her past registrations include International Assets Advisory (Fort Myers, Florida; 2018-2019), MML Investors Services (Fort Myers, Florida; 2017-2018), MSI Financial Services (Fort Lauderdale, Florida; 2015-2017), and Ameriprise Financial Services (Boca Raton, Florida; 2006-2013). Her 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 Uniform Combined State Law Examination, or Series 66; and the Uniform Investment Adviser Law Examination, or Series 65. She is licensed in California, Florida, Maryland, and North Carolina. (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.

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