Randall McGill Facing Client Disputes Concerning Investment Losses

Investors reportedly may have incurred losses due to securities broker Randall Earl McGill [CRD: 1309727, Homer Glen, Illinois], according to disclosures on FINRA BrokerCheck. According to the regulator, McGill has worked for Ausdal Financial Partners Inc. since June 9, 2015. Prior to this, he was registered with the same firm in Davenport, Iowa, as an investment adviser from June 15, 2015, to October 28, 2022. Read on to learn more about the allegations concerning McGill.

Ausdal Financial Partners Inc. Investor Accused McGill of Unsuitable Recommendations

Specifically, a client filed a complaint about Randall McGill. The client alleged that McGill made unsuitable recommendations regarding a $25,000 GWG L bond and certain equity products between January 2021 and June 2022. Because of this, the client allegedly sustained damages. Therefore, on June 23, 2024, Ausdal Financial Partners Inc. settled this matter by paying the client $17,000 in damages, with McGill contributing $12,750 to the settlement.

Ausdal Financial Partners Inc. Investor Accused Randall McGill of Violating Securities Laws, Breach of Fiduciary Duty

Notably, an Ausdal Financial Partners Inc. client filed FINRA Arbitration No. 23-03256 about Randall McGill. Supposedly, McGill violated the Securities Exchange Act of 1933 and 1934, made unsuitable securities recommendations, violated Regulation Best Interest, violated Illinois securities law, breached his fiduciary duty, and failed to supervise. Because of this, the client allegedly sustained damages on GWG L bonds. Therefore, on October 30, 2024, Ausdal Financial Partners Inc. settled this matter by paying the client $23,000 in damages.

Allegations of Failure to Conduct Due Diligence Made by Ausdal Financial Partners Inc. Client

Also, a client of Ausdal Financial Partners Inc. contested Randall McGill’s sales practices by filing FINRA Arbitration No. 23-02444. Allegedly, McGill failed to conduct due diligence, made an unsuitable investment recommendation, breached his fiduciary duty, and failed to supervise. It appears that McGill caused the client to sustain damages on GWG L bonds. Therefore, Ausdal Financial Partners Inc. opted to settle the matter on October 7, 2024, by compensating the client in the amount of $23,000.

Were You Impacted By Securities Broker Randall McGill?

Seeking more information about Randall McGill? If you incurred losses, get in touch with Soreide Law Group online or at (888) 760-6552 and speak with a securities lawyer concerning a potential recovery. Soreide Law Group has recovered losses for investors throughout the United States, represents clients on a contingency fee basis, and advances all costs. McGill and brokerage firms McGill worked for deny any allegations of sales practice violations.