Rodger Sprouse of Titan Securities GWG L Bonds

A FINRA arbitration claim has been filed against Titan Securities and its registered representative, Rodger Sprouse (CRD#: 5483578). Sprouse has been registered with Titan Securities in Lee’s Summit, Missouri, as a broker since January 3, 2011, and as an investment advisor since February 7, 2011. Rodger Sprouse is also the owner of Sprouse Financial in Lee's Summit, Missouri. 
The Claimant is retired and on disability, and is bringing the action over losses in GWG L Bonds and other non-liquid products.  The claim states the investor was inexperienced and was allegedly recommended by Titan Securities and Rodger Sprouse, unsuitable, illiquid bonds, without explaining the risks involved. The Claimant alleges at a meeting with Sprouse he was clear about being inexperienced and needing safe and secure investments to take him through his retirement.
In April of 2022, GWG Holdings, Inc. filed for Chapter 11 bankruptcy. GWG had issued $1.6B of life settlement-backed bonds to investors. Millions of dollars are owed to L Bond investors. Approximately 145 brokerage firms partnered with Emerson Equity to sell L Bonds. The redemption payments were suspended, and investors have no way of getting rid of their bonds.  Many investors, often elderly and retired, were not made aware of the true nature of this risky product.
The Claimant is alleging failure to supervise, unsuitability, concentration, misrepresentations and omissions, and negligence.
According to BrokerCheck report on FINRA’s website, available to the public, Rodger Sprouse, has been in the securities industry for 14 years and has been listed with 5 firms.  He currently has 7 disclosures on his CRD report, all of them are “Customer Disputes.”  Of the 7 disputes, 1 is pending, 3 have settled, 2 were denied and 1 was withdrawn. In the three settled complaints some of the allegations were in part: purchasing a structured cash flow product in 2018, purchased structured cash flow product from Mr. Sprouse an OBA away from Titan Securities, and sold inappropriate investments of life settlements for his profit sharing. Sprouse denies all allegations.
Rodger Sprouse is currently registered with:
TITAN SECURITIES
306 SE 3RD STREET
Lee's Summit, MO 64063
Soreide Law Group is currently handling several GWG L Bond loss cases due to various broker/dealers.  If you were recommended purchasing L Bonds by Rodger Sprouse and/or Titan Securities in Lee’s Summit, Missouri, and you have suffered financial losses, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.