Articles Posted in Reg BI

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Walter Ickert (Ickert), currently associated with Ifp Securities, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Ickert recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $83,000.00 on November 15, 2022.

Customer filed a FINRA arbitration claim received by the firm on Oct 30, 2022. The claim alleges failure to disclose risk parameters surrounding an investment in a GWG “L Bond”. In particular, failure to disclose a possible risk that the principal of the Bond could not be readily accessed or that there was a risk that monthly income could somehow be lost was alleged. The customer also alleges that there was an unsuitable over-concentration in alternative investments and failure on the part of the firm to conduct adequate due diligence. The subject investment in question has filed for Federal Bankruptcy protection under Chapter 11 (re-organization). Internal investigation of facts surrounding allegations was completed on Dec 4th 2022 noting that the term of the bond in question and associated risk parameters were appropriately reflected in person and via documentation provided to the client. Customer requests rescission of investment (83K) and compensatory damages of less than 100k. Ascertainment of alleged actual damages is impossible until Chapter 11 proceedings are completed. Both firm and representative deny the claim(s) and intend to rigorously contest the matter.