Why Working With A Skilled FINRA Law Firm Can Increase Your Ability to Recover Losses

Why Working With A Skilled FINRA Law Firm Can Increase Your Chances of Recovering Your GWG L Bond Losses 

Our Seasoned Brokerage Firm Negligence Attorneys Continue To File Investor Loss Claims For L Bond Investors

While broker-dealers all over the United States earned high commissions and fees from selling GWG L Bonds to clients, including to retail investors and retirees for whom these risky life-settlement-backed bonds were unsuitable, many of these customers are continuing to grapple with their investment losses. Now, with GWG Holdings, Inc., which issued $1.6B of these high-yield junk bonds, in bankruptcy proceedings, investors’ best bet for recouping their losses is by filing a Financial Industry Regulatory (FINRA) arbitration claim against their brokerage firm.

Already, Shepherd Smith Edwards and Kantas are representing dozens of L Bonds investors, including many retirees, throughout the United States against their broker-dealers in FINRA arbitration for unsuitably marketing and selling them this investment. Our most recent FINRA lawsuits that we’ve filed include those brought on behalf of:

  • An older California investor who is seeking up to $500K against Arque Capital and ex-Broker Terry Dean Wheeler, also of Strategic Wealth Legal Advisors in Roseville, CA. The claimant alleges that Arque overconcentrated his funds in alternative investments, including GWG L Bonds and illiquid, non-traded REITs.


  • South Dakota investors filed an up to $500K FINRA arbitration case against Arete Wealth Management and its Chicago broker Denise Patrick Thurman, who used to work out of Sioux Falls. They contend that Arete unsuitably recommended GWG L Bonds and other high-risk, illiquid alternative investments.


  • Older Missouri retirees against Coastal Equities and its former broker Ray Gallette, also of Gallette Financial Services. Both in their eighties, these elder investors are pursuing up to $500K in damages for their losses involving L Bonds and other alternative investments. They say that this broker-dealer never fully apprised them of the risks they were taking on. This is not the first time that Gallette and his daughter Lorraine Gallette, also a former Coastal Equities broker, have been accused of broker fraud by their customers.


  • A Texas retiree who filed a six-figure claim against Centaurus Financial. She entrusted her funds to ex-Centaurus broker Deborah Sue Anderson of Anderson Financial Group in Redlands, Ca. The investor contends that Anderson allegedly ignored her financial goals and breached her fiduciary duty when unsuitable recommending L Bonds. The claimant said that the significant losses she suffered have affected her retirement plans. Shepherd Smith Edwards and Kantas are also representing other L Bond investors who used to work with Centaurus broker Deborah Anderson.

Our L Bond loss lawyers are also representing other investors against many of these broker-dealers.

Why Is FINRA Law Firm The Best Avenue for Recovering Your GWG L Bond Investment Losses?

When you first agreed to work with your broker-dealer, you signed an agreement in which you agreed to resolve any dispute with them in arbitration rather than going to court. The FINRA arbitration system is where this happens. This is a very specific type of dispute resolution and one that you should not go through without a skilled FINRA Law Firm by your side.

Not only do Shepherd Smith Edwards and Kantas have the knowledge, resources, and experience to go toe-to-toe against even the biggest brokerage firms on Wall Street in FINRA arbitration, but also our broker misconduct lawyers have successfully helped thousands of investors, including retail customers and retirees, to recover damages.

Why Not Just Join A Class Action Lawsuit Against GWG Holdings?

Granted, there are L Bond investors who have decided to pursue damages against GWG by joining a class action lawsuit. However, you should know that your chances of obtaining full financial recovery with this type of litigation are slim. Studies have shown that the median recovery for a class member in a securities fraud lawsuit can be two to three pennies for every dollar lost. Not only that but securities class action cases are always brought in federal court where plaintiffs must contend with federal securities laws and procedural rules that often are not favorable to investors.

With your own, individual investor loss claim in FINRA arbitration, and with the help of seasoned broker negligence lawyers fighting for you and advocating for your best interests, your chances of recovering damages against the brokerage firms that unsuitably sold you L Bonds, made misrepresentations or concentrated your account are much greater.

Broker-dealers owe you a judiciary duty to only market and sell financial products to you that are suitable given your investing profile, financial goals, and risk tolerance level. They also are required to properly supervise their financial advisors to ensure that they don’t engage in broker negligence or other misconduct when managing your portfolio.

Also, brokerage firms are required to conduct the proper due diligence into any investment they sell to you. Considering that GWG Holdings has been having financial problems for some time, this should have alerted financial advisers that the company was in trouble and prevented them from continuing to recommend L Bonds to customers. To find out more visit GWG Holdings and GWG Holdings L Bonds.

How Can Our Experienced GWG L Bond Investor Loss Lawyers Help You?

We would like to offer you a free, no-obligation case assessment to help you determine whether you have grounds for pursuing damages over your GWG L Bond investment losses. Should we agree to work together, Shepherd Smith Edwards and Kantas will gather the necessary evidence and documentation to prove your securities claim and file your FINRA lawsuit. We will then represent you before a panel of arbitrators. More than 90% of investors who have retained our services have recovered all if not part of their investment losses.

Call (800) 259-9010 today.







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