Do your own research on EVERYTHING, from a new floor to investing your money. Before retirement, many of our friends would urge us to go with them to a free lunch or dinner. We did attend a couple out of curiosity, but (of course) so much presented was like the old "putting lipstick on a pig", won't go into it all, most has been posted here. Decided long ago that NO ONE, not one single person no matter what they tell you, fiduciary, CFP, NO ONE cares as much about YOUR money as YOU DO. They may "care", of course, but let that sink in, no one cares as much as YOU DO about YOUR money or your welfare. That advice should always be in your mind, rather buying a golf cart, an automobile, or new windows, listen to it all, but just keep remembering the person talking is not MORE interested in your welfare that you are. When you find a person who says, "no, you don't need an whole new AC unit at all, who told you that ? Actually you just need a relatively inexpensive new --------- (fill in the blank), then you can BEGIN to trust that person...LOL ! A LOT of free lunches in the villages... it must be paying off for someone ? Mom always said, there is no "free" lunch..LOL !

It would be interesting to know if Michael L Whitaker or any of his close family owned GWG and if they did when did they get rid of it. If they dumped it before GWG failed, while Michael L Whitaker was still telling us everything was OK and to hang on to what we had.

So very TRUE, but people have to trust others to help them in matters that they don't understand or don't understand fully. You cannot go through life being distrustful or suspicious of everyone. When it is pointed out, as with Michael L. Whitaker and Associates, they need to be singled out and made examples of. The state, college, and other agencies let the public down in this case. Inaction by these agencies cost us thousands perhaps millions of dollars. With so many fillings against Michael L. Whitaker and Associates they should have shut him down before this happened.

If an advisor placed me in a high risk product after I specifically stated I was only comfortable with low risk investments, I would have immediately fired him/her. If that investment was declared a Ponzi scheme and money was lost, I would hire an attorney and depose the individual and ask all these questions. I would consider it money well spent and potentially recoverable. A formal complaint with the SEC is a must do.
I have no doubt there are honest fiduciary advisors, plumbers, electricians, etc. that put their clients’ best interests first. Unfortunately, there are always a few turds in the punch bowl. Unknowingly hiring a self-serving salesman, regardless of what product they are selling, appears to be a recurrent theme in The Villages. There are a lot of good-hearted, trusting, elderly people here that are just looking for an honest individual to help them with their needs.

I filed today...........

SEC Investor Complaint Form

Mdflyer…how did u find Mr Whitaker to begin with? Go to one of his luncheon/dinner seminars? Or did u hear of him from recommendations?

Recommendation. As I stated earlier when I started with him he was very good. It was not until years later, when, in my opinion, his income didn't live up to his lifestyle that he changed the way he put people into more and more risky investments that carry higher and higher commissions that he went from good to bad, very bad.

Why should you consider FINRA arbitration individually if you invested in GWG L bonds?
The information gathered strongly suggests that GWG deceived buyers in a number of ways. It involves lying to investors about its financial status and the risks associated with the L bonds. Many had no idea of the risk or the association to life insurance policies. To recuperate their losses, the majority of buyers file individual lawsuits with FINRA arbitration.

Possibility of financial recovery: Investors who purchased the L bonds can enhance their chances of recovering their money by pursuing individual FINRA arbitration. Those who hire their attorneys can be represented to seek compensation through FINRA arbitration from the financial services firm that sold them the GWG L bond.
Potential of fast resolution: Pursuing the case through FINRA arbitration will result in a quick resolution, which will enable investors to recoup their investment. According to FINRA, its arbitrations are typically quick compared to court cases.
Bring a suit against Emerson Equity and GWG: Besides the class action against GWG Holding, you can as well file a civil suit against the company and Emerson Equity. Evidence shows that most of the L Bond purchasers have complaints against Emerson Equity LLC. Individual investors can institute cases against GWG Holdings through FINRA arbitration.

I filed today...........

SEC Investor Complaint Form

'Classic Ponzi scheme': Angry creditors lambast CEO of Kansas asset-swap business in court records - Kansas Reflector

This is for all the clients that still trust Michael Whitaker
Brad Heppner is a crook and that is who Michael want you his client to trust.

https://www.girardsharp.com/assets/h...ies%20Laws.pdf

Another good read Texas court documents

Glad you were able to take a stand

Read the two articles I posted today.

The Beneficient Company Group Announces Separation from GWG

What does this mean for GWG bond holders. They have been told Beneficient will a big part of the pay back to L Bond holders

I would not hold my breath waiting to get anything back through the courts. File your complaints with the SEC and Arbitration with FINRA. FINRA has a place to ask for your filing to be expedited due to age, medical condition, or other reasons.

It's ironic that this guy has. Google review rating of 4.9 (quite high). Yes, I know those ratings are fairly useless but it does give the guy a positive vibe when you look him up on Google. Here is the link to leave your own review: michael whitaker and associates, llc the villages reviews - Google Search