Previously registered broker Glen Stewart, also known as Glen Allen Stewart, allegedly violated securities laws in connection with the offer and sale of convertible notes and stock issued by Wiser Investments and equity securities issued by its successor entity Wiser Investments, Inc, according to the SEC’s Complaint, under review by attorney Alan Rosca.
Respectively, from August 2017 through October 2019, Stewart allegedly conducted unregistered offers and sales of securities while he was an unregistered securities broker with the Commission, the SEC states. He allegedly solicited investors to purchase Wiser securities by conducting sales meetings and informing prospective investors with a copy of promotional documents, a purchase agreement, and Wiser’s business model, as alleged in the complaint.
The SEC Complaint further alleges Stewart was the CEO of Wiser Investments and he allegedly started Wiser Corporation in September 2018. Stewart offered and sold securities for the Wiser Corporation through the sale of Wiser stock, the SEC states. Additionally, Stewart allegedly executed the bulk of the company’s paperwork, and conducted negotiations on behalf of Wiser.
Furthermore, broker Glen Stewart allegedly raised at least $558,867 from approximately 39 investors and he allegedly received $45,853.50 in transaction-based compensation from the sales.
Investor rights attorney Alan Rosca and his colleagues at Rosca Scarlato LLC law firm is investigating conduct related to Stewart’s alleged offer and sale of Wiser Investments. Concerned Glen Stewart investors may contact attorney Rosca or his colleagues for a free case evaluation and discussion of potential options, or to provide any useful information, by calling 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
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Stewart Barred by the Securities and Exchange Commission in 2021
The Securities and Exchange Commission (SEC) barred broker Glen Stewart following an administrative order entered in the case initiated by the SEC alleging Stewart offered and sold unregistered securities issued by the Wiser Partnership and the Wiser Corporation.
In addition, Stewart was allegedly an unregistered broker with the Commission when he conducted the alleged offers and sales, and he received transaction-based compensation, as stated in the SEC’s Order.
As a result of broker Glen Allen Stewart’s alleged misconduct, he has reportedly been barred from associating with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization.
Stewart Was Registered with FINRA for Five Years
According to Stewart’s Brokercheck page, he was registered with FINRA for five years and joined the securities industry in 2010. Stewart was registered with Wilbanks Securities located in Aurora, California from July 2014 until December 2015. He was allegedly permitted to resign from the firm in November 2015 while he was under internal review in connection to allegations of broker Glen Stewart violating investment-related statutes, regulations, rules or industry standards of conduct.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Potential Options for Glen Stewart Investors
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to broker Glen Stewart Stewart’s alleged offer and sale of Wiser Investments.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Investors concerned they lost money with broker Glen Allen Stewart may contact attorney Alan Rosca for a free case evaluation. Interested Stewart investors may call 888-998-0530, send an email at arosca@rscounsel.law, or complete out the contact form on this webpage.