When Walter Sturhahn's mother cashed out her $200,000 segregated fund to invest with an insurance agent who later declared bankruptcy, he lost his inheritance. (JOHN LEHMANN/JOHN LEHMANN/THE GLOBE AND MAIL)
When insurance regulators began looking into Vancouver-based Lynne Zlotnik Wealth Management Inc. this year – a firm she created in 2006 to sell life insurance and other investment products – they were troubled by what they found.
Several of her clients had invested a total of more than $1.4-million in her company on the promise of a lucrative return. The clients included 96-year-old Katie Sturhahn, who cashed out a $200,000 segregated fund, an investment fund that comes with insurance guarantees, and instead put her faith in the insurance agent. (JOHN LEHMANN/JOHN LEHMANN/THE GLOBE AND MAIL)
Walt Sturhahn in his home in Vancouver. (JOHN LEHMANN/JOHN LEHMANN/THE GLOBE AND MAIL)
Walt Sturhahn holds a picture of his late mother, Katie Sturhahn, at his home in Vancouver. (John Lehmann/The Globe and Mail/John Lehmann/The Globe and Mail)