Talk of The Villages Florida - View Single Post - Need help for my parents they have GWG L Bonds with Michael Whitaker and Associates
Thread: Need help for my parents they have GWG L Bonds with Michael Whitaker and Associates
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Old 03-31-2023, 01:58 AM
retiredguy123 retiredguy123 is offline
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Originally Posted by ton80 View Post
If you go FINRA Broker Check you will find that Michael Whitaker has 3 disclosures against him. Two are unresolved "Breach of Fiduciary Duty" for 100,000 and 232,000 $. This suggests that he is supposed to act as a Fiduciary but the resolution is taking a very long time. There are no other details shown. Good Luck!!
Brokers are required by law to act as a fiduciary when advising clients regarding a retirement account, but not about a non-retirement account. Most brokers, who sell risky investments, try to avoid the fiduciary responsibility if they can.