National investment loss lawyers KlaymanToskes is investigating broker Garrett Moretz (CRD# 4086791) of Moretz Wealth Management and LifeMark Securities Corp., following the filing of a complaint by the Securities Exchange Commission (“SEC”) alleging that Moretz misrepresented high-risk GWG L Bond investments to investors as “guaranteed” from at least September 2019 until about August 2020.
According to the SEC’s complaint, Moretz, in both electronic mail messages and oral communications, repeatedly misrepresented L Bonds to investors as “guaranteed.” Moretz reportedly knew the L Bonds he offered and sold to investors were not guaranteed, and he knew they were not guaranteed at the time he represented them as such to investors.
Moretz has also been hit with several customer complaints filed with the Financial Industry Regulatory Authority (“FINRA”), alleging investor damages due to recommendations to invest in unsuitable, illiquid, and speculative GWG L Bonds.
Investors that suffered losses with broker Garrett Moretz are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigstions@klaymantoskes.com for a free consultation to discuss recovery options.
On May 1, 2023, Moretz received a Wells Notice from the Securities and Exchange Commission (SEC), disclosing the regulator’s investigation into his alleged violations of federal securities laws. Most recently on July 29, 2024, the Securities and Exchange Commission filed a complaint in Federal Court in Charlotte alleging that Moretz fraudulently sold GWG Holdings, Inc. (“GWG”) L Bonds to customers and misrepresented the L Bonds to investors as “guaranteed”.
The SEC’s complaint alleges that Moretz “knew or was reckless in not knowing that investors were not guaranteed to receive interest payments on L Bonds or the return of principal invested in L Bonds.”
In one example, the SEC’s complaint alleges that Moretz’s emails to a customer made several references to L Bonds being guaranteed, including the below correspondence:
The SEC’s investigation found that both GWG’s December 1, 2017 and June 3, 2020 prospectuses stated: “Investing in our L Bonds may be considered speculative and involves a high degree of risk, including the risk of losing your entire investment.” Additionally, the GWG prospectuses disclosed that GWG could allow an L Bond holder to redeem an L Bond prior to maturity, less a 6% fee, but that GWG was not required to do so at any time.
According to FINRA BrokerCheck, broker Garrett Moretz is currently registered as a broker/investment advisor with LifeMark Securities Corp. in Mooresville, NC, and is also reportedly doing business as Moretz Wealth Management.
KlaymanToskes is a leading national securities fraud law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The articles linked below contain important information relating to KlaymanToskes’ investigations of broker Garrett Moretz:
If you suffered losses with broker Garrett Moretz of Moretz Wealth Management contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million (exclusive of attorneys fees and costs) for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Garrett Moretz. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
According to FINRA, brokerage firms such as LifeMark Securities are responsible for the supervision of all of the activities of their registered brokers and investment advisors. Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their broker/advisor made unsuitable investment recommendations.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Garrett Moretz, or have concerns regarding your investment portfolio at Moretz Wealth Management and/or LifeMark Securities, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation to discuss your recovery options.