Timothy Peoples Allegedly Recommended GWG L Bonds

Timothy Peoples (CRD #: 1026456), a broker registered with American Equity Investment Corporation, is involved in a pending dispute, according to his BrokerCheck record, accessed on June 1, 2023. Investors may have also engaged his services through American Capital Management. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On March 15, 2023, an investor filed a dispute alleging that Timothy Peoples recommended GWG Holdings L Bonds in September 2018, September 2019, and August and September 2020.

The dispute notes that L Bonds allegedly stopped paying interest in February 2022 and that GWG Holdings filed for bankruptcy in April 2022. 

The client seeks $100,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the information contained in an investor’s profile, such as their age, tax status, and risk tolerance.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

Background Information

Timothy Peoples has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination
• Series 51 – Municipal Fund Securities Principal Examination
• Series 24 – General Securities Principal Examination

Timothy Peoples is a registered broker in seven states and a registered investment adviser in Florida, Indiana, and Kentucky.

He has also worked for the following firms:

• Vestax Securities Corporation (CRD#:10332)
• Protective Equity Services (CRD#:15708)
• Equity Analysts (CRD#:15876)
• INA Security Corporation (CRD#:422)
• Waddell & Reed (CRD#:866)
• I.C.H. Financial Services (CRD#:5361)

Kurta Law Can Help

If you worked with Timothy Peoples and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.