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Read MoreJohn Dewitt: Ausdal Advisor Faces $100K GWG Complaint
Moline, Illinois financial advisor John Dewitt (CRD# 1999161) recently received an investor complaint alleging that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Ausdal Financial Partners.
Mr. Dewitt’s BrokerCheck report discloses one investor complaint. Filed in January 2024, it alleges that as a representative of Ausdal Financial Partners, he made a misleading and unsuitable recommendation to invest in a GWG L bond, and further that he was negligent in the completion of due diligence. (More information about GWG Holdings, which reportedly raised $1.6 billion from investors in its L bonds, filed for Chapter 11 bankruptcy, and is under investigation by the SEC, is available via this resource.) The pending complaint alleges damages of $100,000.
According to the Financial Industry Regulatory Authority, John Dewitt holds 33 years of securities industry experience. Based in Moline, Illinois, he has been registered as a broker and an investment advisor with Ausdal Financial Partners since 2006. His past registrations include Advanced Financial Planning (Smithtown, New York; 2005-2006), SPC (Bettendorf, Iowa; 2004-2005), Sammons Securities Company (Bettendorf, Iowa; 2002-2005),Woodbury Financial Services (Oakdale, Minnesota; 1994-2002), and MML Investors Services (Springfield, Massachusetts; 1989-1994). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, Illinois, Iowa, and Tennessee. (Information current as of January 30, 2024.)
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