Category Archives: Worth Financial Group

Dallas Based Worth Financial Group Sanctioned by Securities Regulator

January 9, 2015

Worth Financial Group  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that  it failed to establish adequate supervisory systems and written supervisory procedures to supervise sales of life settlement investments by the firm’s registered representatives and non-associated individuals for whom the firm received override commissions.

FINRA alleged that from July 2008 to April 2011 Worth sold fractional interests in life settlements issued by Life Partners, Inc., and collected override commissions on those sales.

Worth Financial Group was censured and fined $10,000.

FINRA Case # 2011025625101

Worth Financial Group has been registered with FINRA since 1983 and is headquartered in Dallas, Texas.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Texas Securities Board Notices Hearing to Revoke Registration of Mowery Capital Management & Frederick Mowery

Austin,Tx-November 17th, 2014- The Texas State Securities Board (TSSB) set a hearing to determine whether the registrations of Mowery Capital Management, LLC and Frederick Eugene Mowery , both of McKinney, Texas, should be revoked, whether Mowery and his company should be fined and ordering a cease and desist from engaging in fraudulent conduct. The hearing is January 27, 2015, 9am CST at the TSSB office in the William P Clements Building, 300 W 15th ST, Austin, TX.

According to the notice, Frederick “Fritz”  Mowery is currently registered as an investment advisor with Worth Financial Group. The TSSB alleges that Mowery has an undisclosed conflict of interest, has failed to disclose material facts on Form ADV , has committed fraudulent acts on persons 65 years of age or older, failed to disclose a bankruptcy petition,   and other claims.

Frederick Mowery is not currently registered with FINRA. He was previously registered with Worth Financial Group from 6/2004-11/2008.

The Austin Statesman reports that Mowery is a friend and business associate of Attorney General-elect Ken Paxton. According to the Statesman, Paxton agreed to a TSSB reprimand and $1,000 fine in May 2014 for soliciting clients for Mowery’s firm, receiving 30 percent of management fees without registering as an investment adviser representative as required by Texas law and without disclosing the business relationship to potential clients.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870