Maumee, Ohio financial advisor Craig Thistlewaite (CRD# 2507050) was recently suspended and fined in connection with alleged rule violations. Financial...
Read MoreAlan Birkley: Newbridge Advisor Received GWG L Bond Complaint
Records filed with a US bankruptcy court indicate that at least two current or former customers of Newbridge Securities advisor Alan Birkley (CRD# 2829988) are listed as creditors for investments in GWG Holdings L bonds and/or preferred stock. The records describe investments of more than $380,000 cumulatively. Financial Industry Regulatory Authority records show that Mr. Birkley is currently based in Boca Raton, Florida.
Mr. Birkley’s BrokerCheck report discloses several investor complaints. The most recent, The most recent, filed in April 2022, alleged that as a representative of Newbridge Securities Corporation, he committed fraud, acted negligently, breached his fiduciary duty, and breached contract in connection with alternative investment recommendations. The complaint alleged damages of $100,001 and was withdrawn in August 2022.
An earlier investor complaint, filed in 1997, alleged that he excessively traded the customer’s account. The complaint reached a settlement of $17,000.
A third investor complaint, filed in 1994, alleged that as a representative of the Prudential Insurance Company of America, he made unsuitable, excessive, and unauthorized trades in the account. The complaint reached a settlement of $21,000.
A fourth investor complaint, filed in 1988, alleged that he failed to follow the customer’s instructions while at Cowen & Company. The complaint reached a settlement of $10,500.
Investors should be aware that GWG L bonds, a product issued by Dallas-based financial services firm GWG Holdings before it filed for bankruptcy in 2022 and fell under SEC scrutiny, may have been highly risky investments for unsophisticated investors. More information about these products is available via our investment resource here.
According to the Financial Industry Regulatory Authority, Alan Birkley holds 46 years of securities industry experience. Based in Boca Raton, Florida, he has been a broker with Newbridge Securities Corporation since 2008. His registration history includes Chicago Investment Group (Chicago, Illinois; 2003-2008), Peregrine Financials & Securities (Chicago, Illinois; 2001-2003), DH Brush & Associates (Chicago, Illinois; 1999-2001), Shepherd Financial Group (Vernon Hills, Illinois; 1998-1999), Principal Financial Securities (Dallas, Texas; 1995-1998), Prudential Securities Incorporated (New York, New York; 1990-1995), Rodman & Renshaw (Chicago, Illinois; 1987-1990), AG Edwards & Sons (1986-1987), Cowen & Company (1976-1986), and Olde & Company (1976). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the AMEX Put and Call Exam, or PC; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Florida, Illinois, Michigan, Nevada, New Jersey, Virginia, Washington, and Wisconsin. (Information current as of May 31, 2023.)
Carlson Law has represented at least nine investors in claims against their financial advisors for investments in GWG Holdings Inc. 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.
