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B. Riley Advisor Cary Levine: Clients Invested $700+ in GWG

Records filed with a US bankruptcy court show that at least seven current or former clients of B. Riley Wealth Management advisor Cary Levine (CRD# 3127758) are listed as creditors for investments in GWG Holdings L bonds and/or preferred stock. The records describe investments totaling more than $700,000. Financial Industry Regulatory Authority records show that Mr. Levine is based in Jupiter, Florida and is the president of Integrity Wealth Advisors.

The Wall Street Journal reported in 2022 that GWG Holdings, the Dallas alternative asset firm known for its L bond product, “which pooled money from bond investors to purchase life-insurance policies on the secondary market,” raised roughly $1.6 billion from investors before later filing for Chapter 11 bankruptcy. According to a report by The DI Wire, GWG disclosed in court filings that the Securities and Exchange Commission was investigating how broker-dealers sold the L bonds. More information on these products is available here.

According to the Financial Industry Regulatory Authority, Cary Levine holds 24 years of securities industry experience. Based in Jupiter, Florida, he has been a broker and an investment advisor with B. Riley Wealth Management since 2021 and 2014, respectively. He is the president of Integrity Wealth Advisors. His past registrations include His past registrations inlcude National Securitis Corporation (Jupiter, Florida; 2013-2022), Asset & Financial Planning (Jupiter, Florida; 2001-2014), Prime Capital Services (Jupiter, Florida; 2000-2013), and Waddell & Reed (Overland Park, Kansas; 1998-2000). His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California, Connecticut, Delaware, Florida, Georgia, New Jersey, New York, Pennsylvania, South Carolina, and Wisconsin. (Information current as of June 4, 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.

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