Garrett Wayne Moretz, Broker with Lifemark Securities, Named in Customer Dispute Alleging Unsuitable Recommendations in GWG L-Bonds

INVESTORS: Lifemark Securities broker Garrett Wayne Moretz was named in customer dispute alleging unsuitable recommendations in GWG L-Bonds.

Garrett Wayne Moretz (CRD: 4086791) is registered as a broker and investment adviser with Lifemark Securities, where he’s been employed since 2017. Moretz was previously registered as a broker with First Heartland Capital from 2009 until 2017.

Moretz has one disclosures on his BrokerCheck report. 

July 2022 Customer Dispute

Status: Pending

Allegations: [REDACTED] met Garret Moretz in 2019 at there church. [REDACTED] then moved their brokerage accounts to be managed by Moretz. Around September 13, 2019, Moretz solicited [REDACTED] to invest in GWG bonds. They then invested $154,500 in GWG L-bonds that are now in default.The L bonds solicited were speculative, illiquid, unrated subordinated debt instruments offered in 2020 and 2021. [REDACTED] claim 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. [REDACTED] claim 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.

Damage Amount Requested: $154,500.00

The Sonn Law Group is currently investigating allegations surrounding Garrett Wayne Moretz. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.