According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Anna Marie Lovell (Lovell), currently associated with Infinity Financial Services, has at least one disclosable event. These events include one customer complaint, alleging that Lovell 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 $50,000.00 on March 25, 2024.
Allegations include lack of warning about the risks of the investment, improper disclosure, lack of service, misrepresented professional capabilities, violations of rules, regulations, and statutes, among others. \, \, In 2020, Anna met with the clients for a discovery meeting on how to invest their recent insurance settlement to address their retirement income needs. Anna learned that one client was already retired and the spouse was planning on retiring within the next few years. One of the clients expressed their sophistication and understanding of economics due to their higher education level. Anna provided the clients with various investment opportunities, in an investment market with near 40 year lows on long term treasury bond interest rates. Investment opportunities ranged from stocks, bonds, mutual funds, and ETF’s. The expected income generated at the time was less appealing to the clients than a higher risk, higher yield non-traded alternative investment debt. I explained the material facts, circumstances, risks, etc. Of the investment to the clients. After several months, during which investments were discussed in detail and an income needs analysis occurred, the clients decided to invest into GWG’s highest yielding highest risk 7-year option after I thoroughly explained that they should consider Long Term Care insurance and ladder the GWG L-Bond term to mitigate risks. However, the clients were willing to accept additional risk for higher income generation during historically low interest rates.
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