Garrett W. Moretz of Moretz Wealth Management: $154k GWG L Bond Investment Complaint

March 23, 2023

Notice to Mooresville, NC Investors: Losses With Garrett Wayne Moretz? Contact KlaymanToskes 

National investment loss lawyers KlaymanToskes is investigating Garrett Wayne Moretz (CRD# 4086791) of Moretz Wealth Management and LifeMark Securities Corp. following a pending investor complaint alleging $154,000 in damages due to unsuitable GWG L Bond investments. The Mooresville, North Carolina-based stockbroker and investment adviser was previously registered with First Heartland Capital, Inc. and has one additional pending customer complaint, which alleges unsuitable investments in an alternative product.

If you suffered investment losses with Garrett Moretz at Moretz Wealth Management, LifeMark Securities Corp. and/or First Heartland Capital, Inc. in Mooresville, NC, contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com to discuss recovery options. We offer free consultations and do not collect attorney’s fees unless we are able to obtain a financial recovery.

Who is Garrett Wayne Moretz?

Garrett Wayne Moretz

Garrett Wayne Moretz (CRD# 4086791)

According to FINRA BrokerCheck, Garrett Wayne Moretz is currently registered as a broker and investment advisor with LifeMark Securities Corp., also doing business as Moretz Wealth Management, in Mooresville, NC. Moretz has two pending customer complaints. 

Moretz’s most recent customer complaint was filed on October 31st, 2022 and alleges an unsuitable investment in an alternative product that was intended to be a small component of a larger diversified portfolio. The investors allege the company that sold the investment has since filed Chapter 11 bankruptcy. The investors further allege unsuitable investment recommendations based upon insufficient due diligence, material misrepresentation and omissions of material facts. No specific damage amount was alleged.

A second customer complaint against Moretz was filed on July 14th, 2022, and alleges $154,500 in damages due to unsuitable investment recommendations in GWG L Bonds. The investor alleges they met Moretz at their church, then moved their brokerage accounts to be managed by Moretz.

The complaint further alleges that Moretz solicited the investor to invest $154,500 in GWG L Bonds and 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. The investor alleges 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.

GWG L Bond Alternative Investments: High-Risk, Illiquid, & Bankrupt 

KlaymanToskes is currently representing investors who sustained significant losses in GWG Holdings, Inc. (OTCMKTS: GWGHQ) L Bonds and other unsuitable, illiquid alternative investment to their customers.

Although GWG Holdings, Inc. filed for chapter 11 bankruptcy in April, 2022, investors may still pursue individual FINRA arbitration claims against the financial advisors and firms who sold this speculative investment.

Recently, KlaymanToskes filed a FINRA arbitration claim (Case No. 22-01932) against Intervest International broker/advisor Craig Lee Carson (CRD# 41892), on the behalf of an 82-year-old widow seeking to recover over $220,000 in damages sustained in GWG L Bonds. 

GWG L bonds were marketed as safe and low-risk investments that were instead illiquid, high-risk, and speculative. GWG disclosed on the second page of its 2020 Prospectus, “L Bonds are only suitable for persons with substantial financial resources and with no need for liquidity in this investment.” Investors are encouraged to learn more about GWG L Bond Investment Recovery Options.

Affected investors are encouraged to contact attorney Lawrence L. Klayman, Esq. for a free and confidential consultation at (888) 997-9956 or lklayman@klaymantoskes.com to discuss your potential case today. Every case is taken on a contingency basis, meaning we do not collect attorney’s fees unless we are able to obtain a financial recovery for you.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.


KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.