Red Flags
16
Ann Vanderslice
Ann Vanderslice, a financial advisor from Lakewood, Colorado, faces allegations of unsuitable investment recommendations, regulatory scrutiny, and client complaints. These controversies highlight significant concerns about her professional conduct and business practices.
Quick summary on Ann Vanderslice
Ann Vanderslice, a financial advisor based in Lakewood, Colorado, has been implicated in several controversies that raise significant concerns about her professional conduct. Below are key negative points associated with her career, each accompanied by subpoints for detailed understanding:
Allegations of Unsuitable Investment Recommendations
GWG L Bonds Controversy: Vanderslice has been accused of recommending high-risk GWG L Bonds to clients without adequately disclosing the associated risks. These bonds were highly speculative and illiquid, making them unsuitable for many investors.
Client Financial Losses: As a result of these recommendations, clients have suffered substantial financial losses, leading to formal complaints and legal actions against her.
Legal Actions and Client Complaints
$250,000 Arbitration Claim: A client filed a $250,000 arbitration claim alleging that Vanderslice made unsuitable investment recommendations and failed to perform due diligence on new offerings.
Additional Complaints: Another investor complaint filed in July 2022 alleges that Vanderslice unsuitably recommended investments in GWG L Bonds and annuity products, seeking damages of $295,000.
Employment-Related Issues
Resignation Due to Policy Violations: In April 2009, Vanderslice was permitted to resign from Securities America for alleged failures to follow firm policy relating to signature use and the supervision of office staff.
Frequent Job Changes: Over her 16-year career, she has been associated with multiple firms, including Madison Avenue Securities, Cabot Lodge Securities, and others, indicating a lack of long-term stability.
Regulatory Scrutiny
FINRA Investigations: The Financial Industry Regulatory Authority (FINRA) has records of multiple complaints against Vanderslice, reflecting ongoing regulatory scrutiny of her professional conduct.
Potential Breach of Fiduciary Duty: The nature of the allegations suggests possible breaches of fiduciary duty, as clients claim that their best interests were not prioritized.
Questionable Business Practices
Association with High-Risk Products: Vanderslice’s involvement in selling large amounts of GWG L Bonds, known for their high risk and illiquidity, raises questions about her commitment to suitable investment practices. (
Misrepresentation and Fraud Allegations: Clients have accused her of misrepresentation and fraud, leading to significant financial harm and loss of trust.
Intel Reports
by: Ryder Simmons
A financial advisor should protect their clients, not gamble with their money. Recommending high risk bonds without proper disclosure is beyond irresponsible. People trusted her with their savings, and now they’re left with losses. There’s no excuse for this level...
Pros
Cons
by: Tristan Bell
A financial advisor should protect their clients, not push them into bad investments for a quick commission. Trust is everything in this industry, and she’s lost it.
by: Quinn Watson
Recommending high risk investments without proper disclosure? That’s not financial advising, that’s gambling with other people’s money.
by: Scarlett Kim
You can’t “misrepresent” high-risk investments and expect people to just let it slide. That’s called fraud, plain and simple..