GWG Holdings Inc. L Bonds Loss Options with Lifemark Securities Corp. Broker Garrett Moretz

GWG Holdings Inc.

Were you the victim of GWG Holdings Inc. L Bonds losses with Lifemark Securities Corp. broker Garrett Moretz (CRD# 4086791)? He has been registered with Lifemark Securities Corp. in Mooresville, North Carolina, since 2017. Previously, he was registered with First Heartland Consultants, Inc. in Morresville, North Carolina from 2010 to 2017.

Garrett Moretz Customer Complaints

He has been the subject of one customer complaint, according to his CRD report:

July 2022. “[REDACTED] met Garret Moretz in 2019 at there church. [REDACTED] then moved their brokerage accounts to be managed by Moretz. Around September 13, 2019, Moretz solicited [REDACTED] to invest in GWG bonds. They then invested $154,500 in GWG L-bonds that are now in default. The L bonds solicited were speculative, illiquid, unrated subordinated debt instruments offered in 2020 and 2021. [REDACTED] claim that LifeMark violated Regulation Best Interest, FINRA rules, and breached common law duties by maintaining the GWG bonds on their list of investments to be offered. [REDACTED] claim there was a breach of fiduciary duty, violations of Regulation Best Interest, violation of FINRA rule 2010, 2120, 2111.05(a), 3110, negligence and negligent supervision, breach of contract, and vicarious liability.” The customer is seeking $154,500 in damages, and the case is currently pending. The complaint was regarding corporate debt.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Lifemark Securities Corp. may be liable for investment or other losses suffered by Garrett Moretz’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.

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