GARRY Wayne DUCKWORTH is currently employed as a Broker and/or Investment Adviser at CETERA FINANCIAL SPECIALISTS LLC located at 515 COLLEGE ROAD, SUITE 18, GREENSBORO, NC, 27410.
GARRY Wayne DUCKWORTH has worked at CETERA FINANCIAL SPECIALISTS LLC since October 26, 2017
GARRY Wayne DUCKWORTH has 1 Disclosure Event(s).
Date: February 25, 2010 Category: Financial Type: Bankruptcy Disposition: Discharged Broker Comment: THE PRIMARY CAUSE LEADING TO MY PERSONAL BANKRUPTCY WAS GROWING PAINS IN OPERATING MY CURRENT CPA PRACTICE WHICH I PURCHASED IN SEPTEMBER 2006. FOR THE TAX FILING SEASON JANUARY - APRIL 2007 I EMPLOYED AS SEASONAL PREPARERS THE TWO GENTLEMEN WHO HAD PREVIOUSLY OWNED AND OPERATED THE FIRM. I ALSO CONTINUED TO OPERATE IN AN OLD HOUSE WHICH BELONGED TO ONE OF PRIOR OWNERS. IN DECEMBER 2007 I MOVED INTO A MORE SUITABLE, BUT MORE EXPENSIVE OFFICE BUILDING. FOR THE TAX FILING SEASON JANUARY - APRIL 2008 NEITHER OF THE PRIOR OWNERS WAS AVAILABLE, SO I HIRED UNKNOWN SEASONAL PREPARERS. I FAILED THAT SEASON TO FIND MOTIVATED, SELF STARTERS. THE PREPARERS WERE GENERALLY EITHER INCOMPETENT OR TOO SLOW. INSTEAD OF MAKING MOST OF MY ANNUAL PROFIT DURING THE TAX FILING SEASON I BORROWED MONEY TO PAY BILLS, ESPECIALLY PAYROLL. THESE ISSUES, PLUS ROUNDS OF STAFF SICKNESSES, CAUSED PROCESSING TIME TO LENGTHEN TO UNACCEPTABLE LEVELS. CONSEQUENTLY A SUBSTANTIAL MINORITY OF MY CLIENTELE DID NOT RETURN FOR THE FILING SEASON JANUARY - APRIL 2009. I CONTINUED TO BORROW INTO 2009 AS THE PRACTICE STABILIZED. BEGINNING IN 2009 I HAVE BEEN ABLE TO FIND COMPETENT TAX PREPARERS WHO WORK AT AN ACCEPTABLE PACE. I HAVE BEEN ABLE TO CUT OVERHEAD EXPENSES WITHOUT SACRIFICING QUALITY. DURING 2010 AND 2011 I MADE REASONABLE PROFITS. GROSS RECEIPTS SO FAR IN 2012 ARE AHEAD OF ANY OF THE LAST THREE YEARS.
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