Ann Vanderslice: $250K Lawsuit for Fraud and Misrepresentation
Financial advisor Ann Vanderslice, also known as Ann Werts, is facing a $250,000 arbitration claim filed by a client who accuses her of making unsuitable investment recommendations and failing to perform due diligence on new offerings.
The complaint was filed with the Financial Industry Regulatory Authority (FINRA), according to Vanderslice’s FINRA BrokerCheck report. Vanderslice is based in Lakewood, Colorado, and represents Federal Benefits Made Simple, an E.A. Buck Company, which offers securities through Madison Avenue Securities.
The regulatory authority is now investigating the matter.
Ann Vanderslice’s Career History
Ann Vanderslice has had a varied work history during her 16-year career as an investment advisor. Her registration with Madison Avenue Securities and AE Wealth Management is her current affiliation, where she provides services as an independent advisor.
Vanderslice’s longest tenure with any firm was seven years with Cabot Lodge Securities, where she was registered from 2007 to 2014. Before joining Cabot Lodge Securities, she had brief stints with several other firms, including Commonwealth Financial Network and Wachovia Securities.
However, Vanderslice’s frequent job changes have raised concerns about her ability to build long-term client relationships and provide consistent financial advice. Such job-hopping behavior is often seen as a red flag in the financial industry and may indicate underlying issues with performance or compliance.
Ann Vanderslice’s Involvement in Selling Risky GWG L Bonds
Ann Vanderslice, along with financial advisors Jason Johnson, Ashley Robinson, and Dan Werts, conducts business as “Federal Benefits Made Simple,” in addition to her registration with Madison Avenue Securities and independent advisor AE Wealth Management.
However, Vanderslice and her accomplices have been fired for allegedly selling their customers a sizable amount of GWG L Bonds.
GWG’s L Bonds were essentially life insurance policies bundled and sold as bonds on a secondary market, which provided investors with a way to invest in the payouts from the death benefit of the insured’s life insurance policies.
These bonds were considered high-risk and illiquid, with no option for investors to resell their investments other than by selling them back to GWG Holdings at a redemption fee.
The allegations against Ann Vanderslice and her associates raise concerns about their investment recommendations and due diligence practices, which should cause trouble for potential investors.
SEC Investigation into Ann Vanderslice’s Broker Network
The SEC started looking into GWG Holdings in October 2020 because of its accounting practices and L Bond issuance. In order to gather information about sales methods for the Bonds, the SEC subpoenaed papers from brokerage companies that were selling GWG L Bonds.
According to GWG, a seller network of roughly 145 brokerage companies regularly offered L Bonds. One of the companies thought to be connected to the GWG network is Cabot Lodge Securities, where Ann Vanderslice previously worked.
Ann Vanderslice’s Customers Who Invested in GWG L Bonds
Investors in L Bonds may be able to seek compensation following the bankruptcy of GWG Holding. They may submit a FINRA arbitration claim against their financial advisors and brokerage firms to recover their financial loss.
Ann Vanderslice, a stockbroker and brokerage company, must adhere to industry norms and regulations and only propose goods they have a solid foundation in believing are suitable for their clients. Advisors must consider a customer’s investment goals and risk tolerance while performing this appropriateness study.
L Bonds were extraordinarily speculative and highly illiquid high-yield debt securities used to fund the acquisition of life insurance policies on the secondary market. As a result, there was only one method for bondholders to resell them besides returning them to GWG Holdings at a redemption fee.
These bonds would have only been appropriate for a small group of investors who could afford to take on significant risks and did not need access to their money due to their high stakes and illiquidity. Investment advisors were aware of these characteristics long before the L Bonds failed. They were required to inform their customers of the risks and only suggest the L Bonds to investors comfortable with high risk and illiquidity. Regrettably, many investors followed their stockbroker’s advice and bought L bonds with their retirement funds.
Ann Vanderslice and other financial advisors are responsible for knowing the risks associated with the assets they suggest to their clients and communicating significant hazards to those clients.
You may be entitled to compensation for your GWG L Bond losses if your financial adviser deceived you into thinking the GWG L Bonds were a secure, low-risk, or guaranteed investment or if your financial advisor neglected to fully disclose the dangers of GWG L Bonds when suggesting them to you.
Also, suppose you were a buyer of the GWG L Bonds and required liquid assets or investments with low to moderate risk. In that case, you might be qualified to receive compensation from the investment advisor and advisory business that pushed you to do so.
Who is Ann Vanderslice?
Ann Vanderslice is president, and founder of Federal Benefits Made Simple, an E.A. Buck company. She is also a financial advisor facing a $250,000 arbitration claim filed by a client who accuses her of making unsuitable investment recommendations and failing to perform due diligence on new offerings.
What did Ann Vanderslice do?
According to her FINRA BrokerCheck Report, Ann Vanderslice has been identified in a $250,000 FINRA arbitration claim lodged by a client who claims that Ms. Vanderslice made unsuitable investment recommendations and neglected to conduct due diligence on new offerings.
What is ‘Federal Benefits Made Simple’?
Federal Benefits Made Simple is a subsidiary of E.A. Buck Company, a division of E.A. Buck. Ann Vanderslice owns both businesses that help people plan for retirement. Federal Benefits Made Easy aims to assist individuals who have worked for the federal government.
What are GWG L Bonds?
The term “GWG L Bond” designates an unrated life insurance bond used for the acquisition and premium payments of life insurance contracts obtained on the secondary market. The bond gives a greater yield than other publicly listed securities, making up for the possibility that the insurance policy payouts won’t be paid.
Avoid Ann for any of the financial advice and investment, she is fooling around, making money after scamming his investors.
The company promotes itself as the safest and high ROI firm than any other in the market, we have seen several ventures scamming people based on fake promotions.
There are chances that these financial advisors may be a fraud and let your money be invested at some non-legitimate firm, so be aware of the respective person and his schemes.
She is not trustable, most of these dealers are there to scam you for your money, so be very selective before investing.
My money was stuck with one of these life insurance scams, I was paying the premium and realized the company is not at all, trustable because when I asked for my records of payment, they simply said, sir, you are still with zero balance! WTF. I am still having a lawsuit filed in court, I will sue them.
Most of these financial advisors are aware of the negatives of their assets, the only thing they want is your money or the commission they will get after any new member, so beware of these financial advisors and never try to waste your money behind these fake dealers.
The world is full of these scammers and there are very few true and legitimate people left with true business deals, following your investors for their money is the reality of the current platforms.
You can’t trust her with any of the business deals.
This is a complete fraud, selling things that don’t have any resale value, she is not a legitimate dealer, and providing materials that aren’t providing any long-term profit then it is waste of time.