Brokers Background He entered the securities industry in 2015 and previously worked for Morgan Stanley. The worst firms appear to adhere to a high-risk business model, resulting in high continuing investor harm. Newbridge Securities Financial Advisor, Peter Goffin, Has Nine Customer Complaints Newbridge Securities Corporation Financial Advisor, Michael Greenfield, Has Six Customer Complaints Newbridge Securities Broker, David Fagenson, Has Twelve Customer Complaints Reported On His Disclosure Report Newbridge Financial Advisor, Dana Davis, Has Eight Customer Complaints, Including Two Pending Complaints Wolper Law Firm Is Investigating Claims Against Financial Advisor, Xavier Patino Newbridge Securities Corp. Financial Advisor, Dana Davis, Has 7 Customer Complaints, Including One Pending Complaint Alleging Fraud And Breach Of Fiduciary Duty Can I Sue Newbridge Securities Corporation Or Salomon Whitney Financial To Recover Investment Losses Caused By Dennis Hayes. August 2019 The White Law Group filed a FINRA lawsuit against Newbridge on behalf of a Glendale, Arizona resident, requesting damages for alleged violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. Newbridge Securities Corporation Trading Products. A group of control persons and promoters reportedly used accounts at the firm to execute pre-arranged in-house agency cross and wash transactions that were intended to generate volume and support or increase the price of the stock. To the extent any of these Newbridge Securities Corporation Announces New Global Headquarters Brokers who have lost money after working with Newbridge Securities Corporation should keep reading . Total. Newbridge Securities Corp. is owned by Newbridge Financial Inc. and Jerry Weigle, and it is the parent company of Ludwig Investments, Inc., Newbridge Securities Corp., and Newbridge Securities Corporation. Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The settlements, fines and arbitration awards put together have already cost Newbridge several million dollars. A large number of customer complaints at Newbridge Securities Corporation also raises questions about . Financial Industry Regulatory Authority records show that he is a broker based in Fort Lauderdale, Florida, also operating as an insurance agent with Philip Gibson Insurance. Is this happening to you frequently? This article is syndicated automatically through a third-party agency from BROKERAUDIT.COM. Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor. Newbridge Securities Corporation (CRD # 104065) has been a FINRA member since 2000 and is headquartered in Boca Raton, Florida. The firm was censured and fined $17,500. Without admitting or denying any wrongdoing in this case, the company consented to the sanctions and agreed to pay the penalty. Complaint History & Business Rating for Newbridge Securities Corporation 1451 West Cypress Creek Blvd. Therefore, Newbridge Securities Corporation may be liable for investment or other losses suffered by Jeffrey Eglow's customers. Corporation has 29 regulatory events and four arbitrations disclosed on its SLCGs ratings reveal that firms it ranked as: The worst brokerage firms over the past 10 years that are still in business remain among the worst firms. According to publicly available records released by the Financial Industry . Beginning 2017, FINRA announced the prioritization of action to keep track of recidivist/ high-risk brokers. When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. They permitted these purportedly non-compliant transactions of unregistered stocks being sold by a few individuals through their accounts. In March 2019, Newbridge Securities Corporation ("Newbridge") filed its Form X-17A-5, commonly called a firm's Focus Report, with the Securities & Exchange Commission ("SEC"). We pride ourselves on providing quality legal services to our clients and handle securities fraud cases throughout the country. The South Carolina Senate has once again rejected a near-total abortion ban, South Carolina senators voted down a bill that would have prohibited nearly all abortions in a conservative state that has increasingly treated patients in an area where Republican politicians have traditionally restricted access. One of John Demeo's 3 customers' complaints was settled in favor of investor. Prior to representing investors, he was a GWG L Bonds, as a whole, are a relatively new financial instrument that claims to provide better yields than standard publicly-traded fixed-income bonds. 0. Newbridge Securities Corp.,a mid-sized broker-dealer based in Boca Raton, FL with 35 regulatory event disclosures, has a history of compliance problems, according to an article in Investment News. Six of Michael Greenfield's 8 customer complaints were settled in favor of investors. Required fields are marked *. Brief and amiable onboarding is the first thing a new user sees in the theme. needs and objectives. Newbridge allegedly allowed the sale of LJM on its platform without conducting reasonable due diligence and without a sufficient understanding of its risks and features, including the fact that the fund pursued a risky strategy that relied on purchasing uncovered options. Specifically, these allegations stemmed from the firms sale of Unit Trust Investments (UTIs) to certain clients. Shares. Their employing brokerage firm has a legal and regulatory Your email address will not be published. Substantial doubt and ongoing concern was expressed by Liggett & Webb, the firm that audited its accounts, about its ability to stay in business. B. Riley Financial Announces Offering of $100 Million Senior Notes Due 2028 and "BBB+" Rating from Egan-Jones. allegedly SUBMITT[ING] UNAUTHORIZED PROXY VOTES ON BEHALF OF ITS CLIENTS., Also in 2016, Newbridge was fined Please do not hesitate to call us today at 844-689-5754 to request a free review of your case. Customers have alleged that the true risks of the bonds were not represented and not suitable. The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. banks and brokerage firms in the world in securities matters. There are disclosures, allegations, or complaints filed against Thomas John Avery. It also does business under the name Ludwig Investments. 9. 0. The securities lawyers at Haselkorn & Thibaut have been investigating Newbridge Securities and the various allegations of unsuitable recommendations leveled against it such as for investments in GPB Capital Holdings, Hospitality Investors Trust REIT, and L Bonds of GWG Holdings, that have resulted in significant losses to investors. Newbridge was censured and issued a fine of $138,000. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. Years in Business: 16. Business Started: 8/31/2006. Please research Thomas Averys disclosures, allegations and complaints before taking a decision, Originally reported on November 15, 2022 @ 11:41 pm. The worst firms in the industry have concentrated their customers accounts in a tiny sliver of available investments. The recent complaints/lawsuits against Newbridge are the result of GWG Holdings L Bonds, GPB Capital, and other non-traded investments. Michael Greenfield has been in the securities industry since 2008 and previously worked at The GMS Group, LLC, Morgan Stanley and Oppenheimer & Co. As a result, investors ended up paying far more than was necessary or appropriate given the circumstances. FINRA sanctioned the firm after allegations that it engaged in corporate bond transactions in which it failed to buy or sell the bonds at a fair price taking into consideration all applicable circumstances. 0. The firm works with retail investors as well as corporations. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases. The problem is by not disclosing the bigger picture to investors, or allowing anyone in the industry to do the analysis, Finra is protecting not only firms but predators and I think someone ought to call them out on it, a securities analyst who asked to remain anonymous told Financial Advisor magazine. Newbridge representatives sold approximately $323,000 in LJM to customers. SLCG also correlated the products brokers are selling to the types of customer abuses and complaints their firm received, including breach of fiduciary duty, misrepresentation, fraud, churning and unauthorized data. 11-04-2019 - Newbridge Securities Corporation Recruits New York City Based Asset Management Group and Winter Park, Florida Group Advising in Excess of $400 Million in Client Assets. Newbridge Securities Corporation (CRD #: 104065) is a brokerage and advisory firm with headquarters in Boca Raton, Florida. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees. pay $499,000 for FAILING TO REASONABLY SUPERVISE ONE AGENT IN CONNECTION WITH Potential Lawsuits to Recover Financial Losses. The Bulletin reported that Jackie Dale Yeley filed the lawsuit on Thursday in Deschutes County Circuit Court through attorneys from the Barton Law Group. July 2017 The State of Pennsylvania sanctioned Newbridge Securities after allegations that it failed to reasonably supervise a registered representative in connection with the sales of structured products in the state. Founded in 2000 and headquartered in Boca Raton, Florida, Newbridge Securities is a full-service brokerage firm. Newbridge Securities Corporation Broker Misconduct. Many unregulated brokers have been found to scam traders. Do you have a complaint about Newbridge Securities? Tracey Longo. SLCGs founder says the secrecy surrounding Finra data and the amount of data that Finra expunges on firms and brokers disciplinary history made this research a Herculean effort., We have moved significantly closer to a first-best ranking by using information on BrokerCheck reports which identifies the employing firm where the complaint about conduct occurred. File A Claim To Recover Your Investment Losses At Newbridge Securities Due To Gerald Cocuzzo. -, Thursday July 23, 2020 11:00 AM EST They must ensure the necessary procedures and systems to detect misconduct. Atlanta, GA 30326 B. Riley Financial Announces Offering of $100 Million Senior Notes Due 2028 and "BBB+" Rating from Egan-Jones, Wednesday January 13, 2021 11:00 AM EST While "only 2.6 percent of the brokers at firms with more than 200 brokers have customer complaints, Aegis Capital (24.49 percent) and Newbridge Securities Corp. (24.27 percent) employ bad . Save my name, email, and website in this browser for the next time I comment. Supervisory failures invited a fine of $225K from FINRA. What are the Most Common Forms of Stockbroker Fraud? You should consult an attorney for individual advice regarding your own situation. For more information about The White Law Group call our Chicago office at 312-238-9650 or visit us on the web at http://www.whitesecuritieslaw.com. Newbridge Securities Corp Financial Advisor, Kerri Jamison, faces a series of complaints from customers who accused her of making unsuitable investment recommendations.Jamison has been in the securities industry since 2001, having worked at Dewaay Financial Network before joining Newbridge Securities.. Jamison is among several brokers at Newbridge Securities Corp that have been flagged for . The State of Pennsylvania sanctioned Newbridge Securities after allegations that it failed to reasonably supervise a registered representative in connection with the sales of structured products in the state. Many investors (presumably, . Buckhead Tower, Suite 400 , and unauthorized trading, among many others. NEWBRIDGE SECURITIES CORPORATION: Street Address: 1200 NORTH FEDERAL HIGHWAY: City: BOCA RATON: State: FL: Area Code: 33432: "The vast majority of complaints referenced in this study are related to Puerto Rico, which has experienced an historic economic downturn," a company statement said. investment losses. Newbridge Securities Corporation (CRD#: 104065) is a registered broker-dealer headquartered in Boca Raton, Florida. Former LPL Financial Advisor Bradley Gardner Barred by FINRA. We can be reached at 800.931.8452 or by email Should I file a FINRA complaint against brokers like Thomas John Avery? The firm was ordered to pay a fine of $499,000. The claim alleges former Newbridge financial advisor Lawrence Labine (Larry Labine), unsuitably invested his client in high-risk alternative investments. Contact us now for a free consultation! GABRIEL MARTIN ANTUNA at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) April 8, 2023. CERTAIN CUSTOMERS ELIGIBLE PURCHASES OF UNIT INVESTMENT TRUSTS (UITS).. They talked a big game and claimed to trade $4.8 billion on behalf of 100,000 investors and promised gains of 1 percent a day. The bonds were sold with varied maturity terms ranging from 2 years to 7 years, with interest rates ranging from 5.50 percent to 8.50 percent, according to a prospectus released by GWG for the issuance of $2 billion in L Bonds. Cocuzzo is no longer with Newbridge. In 2017, Newbridge was ordered to Michael R. Greenfield is a Financial Advisor at Newbridge Securities Corporation in Boca Raton, FL. Its a significant improvement over the firms previous rankings, but our current measure still misses cases which have been expunged, McCann says. Davis has been registered with Newbridge Securities Corporation in New York, New York since 2006. . No lawyers. How to Sue a Financial Advisor or Stockbroker Over Investment Losses, How to File a Complaint Against Your Financial Advisor or Stockbroker, Security Exchange Commission Complaint: How to Report Your Brokerage Firm or Advisor to the SEC. 1223556) has served as Newbridges Director of Investment Banking since 2015. Publishing a list with peoples names, where we havent proven any violations, there would be challenges to that, Axelrod said. However, the announcement of GWGs bankruptcy shows that the principal of L Bond investors is really at risk, and GWG investors are certain to sustain significant losses. Michelle Lujan Grisham has signed emergency legislation to amend New Mexicos new medical malpractice statute in order to prevent a potential loss of insurance coverage for certain healthcareproviders. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. If Newbridge Securities Corporation shows any . Post comment Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION View Complaints, Disclosures, Scams and Audit Report (Updated 2023). 0. (CRD # 104065) has been a FINRA member since 2000 and is headquartered in Boca In December of 2014, FINRA fined Newbridge Securities $138,000 and ordered the brokerage to pay affected customers full restitution. There is currently one pending customer complaint filed against Newbridge Securities Corp. for investment losses caused by John Demeo's alleged misconduct. Newbridge Securities Corp., a mid-sized broker-dealer based in Boca Raton, FL with 35 regulatory event disclosures, has "a history of compliance problems," according to an article in Investment News. March 2017 FINRA sanctioned Newbridge Securities after allegations it failed to report 9,398 reportable order events to the order audit trail system on 147 separate business days, and additionally that the firm transmitted 1,017 reports with inaccurate, incomplete, or improperly formatted information. *by appointment only. Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Securities Corporation, Celebrate Their 20th Anniversary Newbridge Securities Corporation celebrates its Chief Market Strategist Don Selkin Newbridge Securities Corporation Announces New Global Headquarters, Newbridge Securities Corporation Features on its Platform Don Selkin, the Creator of Fair Value numbers included in the U.S. Futures Report on CNBC for Over 35 Years, as its Chief Market Strategist, Newbridge Securities Corporation Recruits New York City Based Asset Management Group and Winter Park, Florida Group Advising in Excess of $400 Million in Client Assets, Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC. Newbridge Securities Corporation celebrates its Chief Market Strategist Don Selkin GWG Holdings, Inc. voluntarily filed for Chapter 11 bankruptcy earlier this year in the U.S. Bankruptcy Court for the Southern District of Texas. memoranda that contained material omissions of facts in violation of FINRA Rule Start by filling out the form above and we will get in . For more information on The White Law Group, visit whitesecuritieslaw.com. Newbridge was censured and issued a fine of $138,000. Churning, failure to supervise, omissions, and misrepresentations can be possible grounds for filing a FINRA arbitration claim against the firm for recovery of losses. You may suffer significant losses at the hands of your financial advisors misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. In June of 2016, FINRA fined Newbridge Securities $115,000 and ordered the firm to pay $188,803.99 in restitution to affected customers for failing to apply sales charge waivers to client accounts. Censured and fined $17,500 by FINRA. I'm Jeff Sonn, an attorney concentrating on securities fraud and consumer class actions. In 2010 the complaint reached a settlement of $850,000. September 2019 The Financial Industry Regulatory Authority Inc. reportedly censured Newbridge Securities and fined the firm $225,000 for having failed to adequately supervise the sale of complex securities such as structured notes and leveraged, inverse and inverse-leveraged exchange-traded funds. Specifically, FINRA enforcement staff found that representatives of Newbridge Securities were engaged in a complex scheme that was designed to increase the volume of trades on a particular stock. The Securities Litigation & Consulting Group (SLCG) has done what regulators have repeatedly declined to do published the worst ranked brokerage firms in the securities industry. Update 2022.11.15If you have suffered investment losses that may have been caused by Thomas John Averys negligence or fraud, contact a FINRA lawyer today. According to FINRA, the firm failed to get investors a fair market price on certain trades. August 2010 FINRA censured and fined Newbridge $600,000 after allegations that it facilitated the manipulative trading of the stock of a company created as the result of a reverse merger. Although our offices are in Seattle, Washington and Chicago, Illinois, the firm reviews securities fraud cases throughout the country. March 2017 - FINRA sanctioned Newbridge Securities after allegations it failed to report 9,398 reportable order events to the order audit trail system on 147 separate business days, and . The White Law Group is a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida. There have been several cases of registered representatives employed by Newbridge who were involved in broker misconduct and fraudulent activities. The Focus Report showed that in 2018, Newbridge had almost $33 million in revenues, yet reported only . Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Financial Services Group, Inc. Shows 214% Growth in Assets Under Management. A 22-21 vote Thursday is the third time a near-total abortion ban has failed in the Republican-led chamber since the United States [], Oregon man sues for $43.5M over paralysis caused by brain surgery, A man from La Pine is suing Bend, Oregons St. Charles Health System for $43.5 million after complications from brain surgery rendered him incapacitated. Newbridge Securities Corporation financial advisor Dana Davis (CRD# 1707708) is accused of unsuitable investment recommendations and excessive trading. Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC At the time of filing Labine reportedly had six regulatory events, two judgement liens, one employment separation, and 23 customer complaints on his broker report. September 2019 The Financial Industry Regulatory Authority Inc. reportedly censured Newbridge Securities and fined the firm $225,000 for having failed to adequately supervise the sale of complex securities such as structured notes and leveraged, inverse and inverse-leveraged exchange-traded funds. Steven Perlstein Joins Newbridge Financial, Inc. as its Vice President of Business Development for Digital Products and Services The firm was ordered to pay a fine of $499,000. The White Law Group is investigating potential securities claims involving Newbridge Securities Corp. (CRD#: 104065, Boca Raton, FL). No recommendation or advice is being given as to whether any investment is suitable for a particular investor. From our primary office in South Florida, we protect investors nationwide. FINRA further imposed a fine of $5,000 on the firms director of investment banking, and reportedly suspended him for two months for his failure to properly supervise the sale of the complex securities. Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. 100% online. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees. Newbridge Securities Corporation Recruits New York City Based Asset Management Group and Winter Park, Florida Group Advising in Excess of $400 Million in Client Assets Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others. [Attorney Bio], 1250 S. Pine Island Road, Suite 325 Plantation, FL 33324 Phone: 800.931.8452 / 954.406.1231, 2022 The Wolper Law Firm, P.A. 1200 NORTH FEDERAL HIGHWAY, BOCA RATON, FL, 33432, Visit https://brokercheck.finra.org/firm/summary/104065 to read a detailed report for NEWBRIDGE SECURITIES CORPORATION, Were not sure. Depending on the amount of experience people have with brokers, it may be easy to tell what is legitimate and off-base before the problem starts. Aegis Capital and Newbridge did not return calls for comment by press time. Since GWG has been the subject of more and more bad news, L Bond investors have been unsure about their investments. Loading. . Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) April 1, 2023. complaints/lawsuits against Newbridge are the result of GWG Holdings L Bonds, GWG Holdings, Inc. submits a bankruptcy petition, Newbridge Securities appears to be a haven for rogue brokers. Instead, the regulator has created a special exam unit targeting high-risk brokers, said Susan Axelrod, Finras executive vice president for regulatory operations at the National Society of Compliance Professionals Conference in Washington, D.C., last week. At the time of filing Labine reportedly had six regulatory events, two judgement liens, one employment separation, and 23 customer complaints on his broker report. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. For more information on The White Law Group, visit. -, Wednesday February 26, 2020 8:00 AM EST It claims that it provides services in over 80 locations countrywide. The firm reportedly failed to adequately supervise the registered representatives who participated in the sales of unregistered securities, according to FINRA. at mwolper@wolperlawfirm.com. . Business Incorporated: After hearing arguments from attorneys representing Utah and abortion providers, state court judge Andrew Stone stated that he would rule on Planned Parenthoods motion to defer the [], Experimenting with radiation to treat irregular heartbeat, ALLY INVEST SECURITIES LLC (CRD#: 136131) :: 11/29/2017 3/18/2019 :: FORT LAUDERDALE, FL, AXA ADVISORS, LLC (CRD#: 6627) :: 8/20/2012 10/30/2017 :: FT. LAUDERDALE, FL, INVESTACORP, INC. (CRD#: 7684) :: 3/30/2006 11/12/2009 :: MIAMI, FL, NATIONAL FINANCIAL SERVICES LLC (CRD#: 13041) :: 7/12/2005 3/8/2006 :: BOSTON, MA, E*TRADE PROFESSIONAL TRADING, LLC (CRD#: 39293) :: 5/25/2004 5/25/2005 :: NEW YORK, NY, CHASE INVESTMENT SERVICES CORP. (CRD#: 25574) :: 1/7/2004 1/13/2004 :: CHICAGO, IL, JEMMINI SECURITIES, LLC (CRD#: 119665) :: 9/23/2003 12/2/2003 :: NEW YORK, NY, AXA ADVISORS, LLC (CRD#: 6627) :: 10/16/1998 11/22/2002 :: NEW YORK, NY, THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (CRD#: 4039) :: 10/16/1998 1/5/2000 :: NEW YORK, NY, WALL STREET EQUITIES INCORPORATED (CRD#: 18432) :: 10/25/1995 8/25/1998 :: NEW YORK, NY, WALL STREET INVESTOR SERVICES (CRD#: 10012) :: 5/12/1995 7/18/1995 :: NEW YORK, NY, INVESTEX SECURITIES GROUP, INC. (CRD#: 30094) :: 2/6/1995 6/5/1995 :: NEW YORK, NY, NATIONAL DISCOUNT BROKERS (CRD#: 27501) :: 10/3/1994 12/8/1994 :: OMAHA, NE, CHARLES SCHWAB & CO., INC. (CRD#: 5393) :: 3/13/1992 9/30/1994 :: SAN FRANCISCO, CA, WATERHOUSE SECURITIES, INC. (CRD#: 7870) :: 3/14/1989 5/29/1991 :: OMAHA, NE, OMNI MUTUAL, INC. (CRD#: 10243) :: 12/16/1987 4/14/1988, AUSTIN SECURITIES, INC. (CRD#: 17094) :: 9/18/1987 11/16/1987, WALL STREET DISCOUNT CORPORATION (THE) (CRD#: 11069) :: 3/5/1987 9/17/1987, BROOKS WEINGER ROBBINS & LEEDS INC. (CRD#: 14156) :: 9/24/1986 3/12/1987, VENUS INTERNATIONAL GROUP, LTD. (CRD#: 16722) :: 8/13/1986 9/24/1986, BROOKS WEINGER ROBBINS & LEEDS INC. (CRD#: 14156) :: 12/17/1985 5/20/1986. A Scottsdale financial advisor with a questionable history is the subject of a lawsuit alleging he breached his fiduciary duty when he made (312) 238-9650 | Fax (312) 238-8950 | (888) 637-5510 | 125 S. Wacker Drive, Suite 300, Chicago, Illinois 60606The information you obtain at this site is not, nor is it intended to be, legal advice. Matt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Bruce H. Jordan (CRD # As such, we believe that part of our role as attorney is to offer a supportive environment for our clients and to provide advice and support as we attempt to recover these investment losses. Brokers and financial advisors may commit investment or securities fraud in an effort to control the market, gain business, or maximize commissions. A number of investors who bought GWG L Bonds through the brokerage Newbridge Securities are represented by . Many of our clients have lost a significant portion of their net worth as the result of the negligence of their financial professional. Nearly 95 percent of the 146 customer complaints pending against Santander Securities in 2016 involved the sale of illiquid securities, SLCG found. Life insurance and alternative investments are among the services provided by GWG Holdings, a financial services company with its headquarters in Dallas. Corporations CRD, click https://brokercheck.finra.org/firm/summary/104065#disclosuresSection. CRD. Location of This Business. partner with a national law firm, where he represented some of the largest Peter Goffin is a Financial Advisor at Newbridge Securities Corporation in Boca Raton, FL. FINRA Censures and Fines Newbridge Securities Corp. March 2023 Newbridge this week agreed to sanctions involving supervisory failures and sales of a risky alternative mutual fund. June 2016 - FINRA censured and fined the firm $115,000 after allegations that it failed to apply sales charge discounts to certain investors eligible investments in unit investment trust products (UITs). Investors are now concerned about the condition of these investments and the potential loss of principal after GWG sold L Bonds valued at billions of dollars over the course of several years. securities business and employs approximately 175 registered representatives at