Cornell Asset Management’s Jacob Cornell: Clients Invested in GWG

At least five current or former customers of Centaurus Financial advisor Jacob Cornell (CRD# 6286359) are listed as creditors for investments in GWG Holdings L bonds and/or preferred stock, according to public records. Filed with a US bankruptcy court, the records describe investments totaling $650,000. Financial Industry Regulatory Authority records show that Mr. Cornell is based in Sarasota, Florida and does business as Cornell Asset Management.

Investors should be aware that “L bond” products issued by Dallas-based financial services firm GWG Holdings, which filed for bankruptcy in April 2022 and disclosed in filings that the Securities and Exchange Commission was scrutinizing the sales of its products, may have been unsuitable for customers with limited investment experience and/or conservative risk tolerances. More information about these investments, and whether you may be eligible to file a claim for damages, is available via this investor resource.

As his profile on Cornell Asset Management’s website explains, Jacob Cornell is a “third-generation financial advisor” and the son of a Morgan Stanley vice president. “As a financial professional who can offer investment and insurance products and services,” his profile states, “Jacob is passionate about helping people navigate their finances throughout retirement. He also enjoys leading informational classes at the State College of Florida, Manatee-Sarasota and Florida SouthWestern State College.”

According to the Financial Industry Regulatory Authority, Jacob Cornell holds three years of securities industry experience. Based in Sarasota and Port Charlotte, Florida, he has been a broker and an investment advisor with Centaurus Financial since 2020, doing business as Cornell Asset Management. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Florida, Georgia, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Virginia, and Wisconsin. (Information current as of June 12, 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.