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James Coker: Client Invested Millions in L Bonds

At least one current or former customer of Coker & Palmer advisor James Coker (CRD# 2741097) is listed as a creditor for investments in GWG Holdings L bonds, according to public records. Filed with a US bankruptcy court in Texas, the records show investments of $2,775,000. Records maintained by the Financial Industry Regulatory Authority indicate that Mr. Palmer is currently based in Jackson, Mississippi.

Investors should be aware that under FINRA Rule 2111, advisors like Mr. Palmer may only recommend investment products and/or strategies that are considered suitable for their clients: that is, whether it is in line with the client’s background and objectives. To determine an investment’s suitability, the advisor must perform reasonable diligence into the customer’s investment profile, which includes their age, risk tolerance, investment goals and background, net worth, income, and other factors. Representatives who make unsuitable investment recommendations — for instance, by recommending a risky investment in GWG L bonds to an inexperienced or conservative investor — may be held liable in the event of damages.

According to the Financial Industry Regulatory Authority, James Coker holds 39 years of securities industry experience. Based in Jackson, Mississippi, he has been a broker and an investment advisor with Coker & Palmer since 1991 and 2011, respectively. He is also registered with the firm’s office in New Orleans, Louisiana. He was previously registered with Dean Witter Reynolds (Purchase, New York) from 1984 until 1991. His credentials include the passage of 13 securities industry qualifying exams: the General Securities Sales Supervisor Examination (Options Module & General Module), or Series 8; the General Securities Principal Examination, or Series 24; the Financial and Operations Principal Examination, or Series 27; the Municipal Securities Principal Examination, or Series 53; the Registered Options Principal Examination, or Series 4; the Compliance Officer Examination, or Series 14; the General Securities Representative Examination, or Series 7; the Research Analyst Exam – Part II Regulations Module, or Series 87; the Securities Industry Essentials Examination, or SIE; the Municipal Securities Representative Examination, or Series 52TO; the Operations Professional Examination, or Series 99TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Alabama, Arizona, Arkansas, California, Florida, Georgia, Illinois, Indiana, Louisiana, Mississippi, New Jersey, New York, North Carolina, Oklahoma, Tennessee, Texas, Utah, and Wyoming. (Information current as of June 9, 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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