Gary Cassill (Tukwila, Washington) and Life Partners, Inc.
Have you lost money with financial advisor Gary Cassill from Tukwila and Lake Tapps, Washington? We are continuing our investigation allegations made against Cassill. The Washington Division of Securities brought a regulatory complaint against Gary Cassill, alleging that he sold $712,000 in interests in Life Partners, Inc. to at least 10 Washington State residents, and that Cassill earned approximately $79,000 in commissions from these sales.
Washington alleged that Life Partners, Inc. is a business that sold life settlements. Life settlements are comprised of insurance policies that are sold to investors; when the insured dies, the investor gets a portion of the insurance policy and hopes to make a profit. In 2012, the Securities and Exchange Commission alleged that Life Partners, Inc. had violated securities laws by misrepresenting the life expectancy estimates of insureds and made material misrepresentations on its financial statements. Life Partners, Inc. filed for bankruptcy in 2015.
Washington recently settled with Gary Cassill. Pursuant to a Consent Order, Cassill agreed to pay a $500 fine and $500 in costs.
Gary Cassill was a registered representative and financial advisor with LPL Financial from September 2008 to November 2009. He has also been affiliated with Titan Securities from August 2010 to the present. Cassill operated branch offices in Tukwila and Lake Tapps, Washington. He operates a firm called Mountain Top Advisors in Lake Tapps. Cassill has been the subject of two customer complaints.
Broker-dealers like LPL Financial and Titan Securities have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Bellevue, Washington; Vancouver, Washington; and Denver, Colorado. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in the Seattle area, including in Tukwila, Tacoma, Kent, and Auburn. Attorney David Neuman is licensed to practice law in the State of Washington. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial.
Click to view: Cassill, Gary BrokerCheck 4.26.17
Click to view: Cassill, Gary Washington Complaint
Click to view: Cassill, Gary Washington Order
If you lost money with Gary Cassill or Ameriprise, please CONTACT US at 206-795-5798 or 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.