Case Study

GWG grows as life insurance secondary market gains acceptance

GWG Life logo

Our client’s need

GWG Life was established to help policyholders maximize their life insurance and get the most out of this powerful wealth management tool. The company’s services allow seniors and their caregivers to sell, keep, trade, or gift life insurance based upon their needs today.

Over the years, GWG has had a combination of bank financing, public debt, and most recently, public equity through an initial public offering (IPO). As the company grew, executives realized they needed specialized accounting and auditing expertise during capital raises and as their portfolio continued to increase.

Baker Tilly solution

Leaders of GWG had previously worked with Baker Tilly to meet the organization’s tax needs and ensure compliance with Sarbanes-Oxley (SOX) internal control requirements. In deciding to change financial statement auditors, they chose Baker Tilly for several reasons:

  • Delivered value in prior GWG tax and consulting projects
  • Experience serving the insurance industry
  • Understanding of the life insurance secondary market
  • Demonstrated ability to work with complex clients
  • Deep knowledge of structured finance

Results achieved

The advice GWG receives is from a specialized team who understands insurance, structured finance, and their business. Because of this insight, Baker Tilly is able to have in-depth discussions with GWG executives and audit committee members regarding intricate financial matters.

“The transition of our audit work to Baker Tilly was easy, with no disruptions to our business. Because they know our world, we don’t have to answer unnecessary questions. Their experienced professionals are able to bring practical tax and accounting solutions to our complex business.– Jon Gangelhoff

  Chief Operating Officer ​

  GWG Holdings, Inc.

For more information on this topic, or to learn how Baker Tilly insurance specialists can help, contact our team.