Few client actions are more disconcerting to an advisor than multiple SEC “disclosures”. Contacting a legal firm that is already in litigation with GWG and the L-bond debacle can result in a formal complaint of malfeasance to the SEC and will be listed on the advisor’s form ADV. This form is readily available and free on the FINRA website. Click on the “Brokercheck” tab, search by name or firm and click on “disclosures”. Unfortunately, I am concerned that many seniors are unaware of this website.
The FINRA website lists 4 disclosures in the last year for Mr. Whitaker, Sr. as well as disclosures for Mr. Whitaker, Jr. Breach of fiduciary duty as well as other accusations are listed on the FINRA website. Both individuals are at the same address in The Villages.
I have no doubt there are fiduciary advisors that truly put their clients’ interest first. Unfortunately, it appears many are far more interested in pushing high-commission products. Due diligence, a call to Vanguard and seeking legal recourse is my recommendation.
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