Former TransAmerica Financial Advisors, Inc. Financial Advisor Daniel Glick Accused of Scamming Elderly Investors out of Millions of Dollars
Posted on Saturday, January 6th, 2018 at 9:24 am
Erez Law is currently investigating former TransAmerica Financial Advisors, Inc. financial advisor Daniel Glick (CRD# 2175655) regarding scamming elderly clients out of millions of dollars. Glick was registered with TransAmerica Financial Advisors, Inc. in Orland Park, Illinois from 2012 to 2014, when he was terminated regarding, “TFA found Mr. Glick failed to disclose to the firm his entrance into a settlement agreement with the CFP board, and that he was permanently barred from using the CFP designation. Mr. Glick’s registration with TFA was terminated effective March 20, 2014.” Previously, Glick was registered with World Group Securities, Inc. in Wheaton, Illinois from 2007 to 2012.
There are pending felony wire fraud against Glick.
It is reported that in March 2017, the Securities and Exchange Commission ordered an emergency asset freeze and temporary restraining order against Glick and his financial management company, Financial Management Strategies, following accusations that Glick scammed elderly investors out of millions of dollars. Financial Management Strategies is an unregistered investment advisory firm. The SEC alleges that Glick and his firm provided clients with false account statements to hide his use of client funds to pay personal and business expenses, purchasing a luxury vehicle, and pay off loans and debts among other misuses.
It is also reported that in March 2014, Glick was barred by FINRA in 2014 and had his Certified Financial Planner designation and Certified Public Accountant license after he consented to the sanction and to the entry of findings that in the course of an investigation, FINRA requested documents and information from Glick, concerning findings by the certified financial planner board of standards that he forged clients’ signatures on letters to a bank in order to gain access to, and misappropriate, their assets.
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, TransAmerica Financial Advisors, Inc. may be liable for investment or other losses suffered by Glick’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.