Brian Wayne Napier, a stockbroker based in Greenwood, Indiana, and registered with Ausdal Financial Partners Inc., is currently facing a pending customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim filed on March 11, 2024 (FINRA Arbitration No. 24-00532). The allegations include negligence, negligent supervision, violations of the Indiana Securities Act, breach of fiduciary duty, and violations of both FINRA and NYSE Rules in connection with the sale of GWG Holdings Class L Bonds, with the customer seeking damages of $150,000. The matter remains unresolved.
FINRA Public Disclosure shows that a prior customer initiated investment related FINRA securities arbitration claim against Napier was settled on December 20, 2023 (FINRA Arbitration No. 22-01956). The allegations, also related to the sale of GWG L Bonds between January 2018 and July 2020, included breach of fiduciary duty and failure to supervise. The customer initially sought $435,000 in damages, and the case was settled for $130,000, with Napier contributing $55,000 to the settlement. Napier denied any wrongdoing, stating that the matter was settled to avoid additional legal and arbitration costs.
Napier has been registered with Ausdal Financial Partners Inc. since October 23, 2013
