Skip to main content

Exit WCAG Theme

Switch to Non-ADA Website

Accessibility Options

Select Text Sizes

Select Text Color

Website Accessibility Information Close Options
Close Menu
Carlson Law, P.A. Motto
  • Free Consultation
  • ~

1st Financial Advisor Heath Goldstein Has GWG, REIT Complaints

Clark’s Summit, Pennsylvania financial advisor Heath Goldstein (CRD# 2147679) allegedly recommended unsuitable GWG L bonds, real estate investment trusts (REITs), oil and gas securities, and other investments, according to investor complaints. Financial Industry Regulatory Authority records show that he is a representative of Western International Securities, doing business as 1st Financial Investments.

The most recent investor complaint disclosed on Mr. Goldstein’s BrokerCheck report was filed in June 2022. It alleges that as a representative of Western International Securities and 1st Financial Investments, he breached his fiduciary duty and committed fraud in connection to investments in GWG Preferred Stock. The pending complaint alleges damages of $129,209.82. In a comment on the disclosure, states that the claim “is of no merit” and notes that he was not named as a respondent in it.

A similar complaint, filed in April 2022, also alleged that Mr. Goldstein sold an investment in GWG Holdings L bonds “as a very safe investment.” The customer sought $100,000 in the complaint, which was closed.

Mr. Goldstein’s BrokerCheck report discloses three investor complaints that reached settlements. The most recent, filed in 2019, alleged unsuitable investment recommendations involving real estate securities and fixed annuities, fraud, negligence, and breach of fiduciary duty. The complaint reached a settlement of $38,199.99. In a statement on the complaint’s disclosure, Mr. Goldstein wrote that the claim “has absolutely no merit.” 

A complaint filed in 2018 alleged the misrepresentation and recommendation of unsuitable oil and gas investments. The complaint reached a settlement of $51,500. In a statement on the disclosure, Mr. Goldstein said he “had absolutely no involvement” in selling any of the products at issue in the complaint, and that his involvement with the claimant “was merely administrative and filling out the paperwork.”

A third investor complaint, filed in 2017, alleged breach of fiduciary duty, fraud, negligence, breach of contract, and violations of Pennsylvania and federal securities law. The complaint reached a settlement of $15,000. In a statement on the disclosure, Mr. Goldstein said that he “was not the Registered Rep of Record when any of these securities products were sold.”

According to the Financial Industry Regulatory Authority, Heath Goldstein holds 21 years of securities industry experience. Based in Clark’s Summit, Pennsylvania, he has been a representative of Western International Securities since 2016, doing business as 1st Financial Investments. His past registrations include Calton & Associates (Clark’s Summit, Pennsylvania; 2014-2016), Kalos Capital (Clark’s Summit, Pennsylvania; 2011-2014), WFG Investments (Clark’s Summit, Pennsylvania; 2011), Berthel Fisher & Company Financial Services (Clark’s Summit, Pennsylvania; 2004-2011), Midsouth Capital (Atlanta, Georgia; 2003-2004), PFS Investments (Duluth, Georgia; 1996-1997), Merrill Lynch (New York, New York; 1993-1994), and Prudential Securities (New York, New York; 1993). His credentials include the passage of six securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Assistant Representative-Order Processing Qualification Exam, or Series 11; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Florida, Georgia, Louisiana, Minnesota, New Jersey, New York, Pennsylvania, South Carolina, and Texas. (Information current as of June 8, 2022.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

Facebook Twitter LinkedIn

By submitting this form I acknowledge that form submissions via this website do not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

Latest Blog Posts

Steven Hirata: FINRA Sanctions, Bars Ex-PFS Investments Advisor

Former Fresno financial advisor Steven Hirata (CRD# 1188927) was recently sanctioned by the Financial Industry Regulatory Authority for allegedly refusing to cooperate with an investigation into his conduct. FINRA records...

Read More

Rod Thomas: GPB Auto Complaint Against Former SCF Securities Advisor

Boca Raton financial advisory Rod Thomas (CRD# 4010563) recommended an unsuitable investment in GPB Automotive, according to a recent investor complaint against him. Financial Industry Regulatory Authority records show that...

Read More

Scott Brooks: GPB Capital Complaint Against Gold Coast Advisor

San Clemente, California financial advisor Scott Brooks (CRD# 3235252) recently received an investor complaint alleging he engaged in negligence and other forms of misconduct. Financial Industry Regulatory Authority records show...

Read More

By submitting this form I acknowledge that form submissions via this website do not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

Skip footer and go back to main navigation