Mark Sonntag: GWG L Bond Complaint Against Fort Myers Advisor

National Securities Corporation advisor Mark Sonntag (CRD# 1939350) has received an investor complaint concerning an investment in GWG L bond. Financial Industry Regulatory Authority records show that he is a broker and investment advisor in Fort Myers, Florida. 

Mr. Sonntag’s BrokerCheck report discloses one investor complaint. Filed in May 2022, it alleges that as a representative of National Securities Corporation, he recommended an unsuitable investment in GWG Holdings L bonds. The pending complaint alleges damages of $75,000.

For reference, GWG Holdings was a company that reportedly used investors’ funds to purchase life insurance policies on the secondary market, ostensibly generating profits when the policies paid out. GWG disclosed in a 2020 filing with the Securities and Exchange Commission that it was facing financial difficulties as well as an investigation by the SEC. In 2022 it announced that it was suspending all sales, interest, maturity, dividend, and redemption payments to L Bond and Preferred Stockholders; a few months later, it filed for bankruptcy for itself and two of its subsidiaries, GWG Life and GWG USA. If your financial advisor misrepresented the risk of GWG bond investments, or over-concentrated these products in your portfolio, they may be liable to you.

According to the Financial Industry Regulatory Authority, Mark Sonntag holds 32 years of securities industry experience. Based in Fort Myers, Florida, he has been a broker and investment advisor with National Securities Corporation since 2013 and 2014, respectively. His past registrations include Prime Capital Services (2009-2013; 2000-2006), Cambridge Investment Research (2006-2009), Nathan & Lewis Securities (1997-2000), New England Securities (1993-1997), Lincoln Financial Advisors Corporation (1992-1993), the Lincoln National Life Insurance Company (1992-1993), John Hancock Distributors (1989-1992), and John Hancock Mutual Life Insurance Company (1989-1992). He has passed five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Uniform Investment Adviser Law Examination, or Series 65; the General Securities Representative Examination, or Series 7; the Uniform Securities Agent State Law Examination, or Series 63; and the Securities Industry Essentials Examination, or SIE. He is licensed in Florida, Georgia, Massachusetts, Michigan, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Tennessee, Texas, and Wisconsin. (Information current as of July 5, 2022.)

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