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Jim Lund: $100K GWG Complaint Against Cabot Lodge Advisor
San Marino financial advisor Jim Lund (CRD# 1713921) recently received an investor complaint alleging his conduct resulted in six-figure damages connected with GWG L bond investments. Records maintained by the Financial Industry Regulatory Authority indicate that is currently registered as a broker with Cabot Lodge Securities, having previously been registered with Concorde Investment Services.
Mr. Lund’s BrokerCheck report discloses three investor complaints. The most recent, filed in February 2023, alleges that as a representative of Cabot Lodge Securities, he violated state and federal securities laws, committed fraud, recommended unsuitable investments in GWG L bonds in 2018 and 2019, misrepresented and omitted material facts, breached his fiduciary duty, and acted negligently. The pending complaint alleges damages of $100,001.
An earlier investor complaint, filed in 2019, alleged that he misrepresented and recommended an unsuitable investment in March 2015, while he was at Concorde Investment Services. In 2020 the complaint reached a settlement of $325,000.
A third investor complaint, filed in 2010, alleged that as a representative of United Securities Alliance, he recommended unsuitable investments, breached contract, committed fraud, breached his fiduciary duty, and acted negligently in connection with TIC investments including Watersong Apartments and Cabot Turfway Ridge Acquisition. In 2012 the complaint reached a settlement of $156,250.
According to the Financial Industry Regulatory Authority, Jim Lund holds 27 years of securities industry experience. Based in San Marino, California, he has been a broker with Cabot Lodge Securities since 2015. His registration history includes Concorde Investment Services, CapWest Securities, United Securities Alliance, Investors Capital Corporation, FSC Securities, and Laguna Securities.His credentials include the passage of four securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Colorado, Florida, Kentucky, Michigan, Montana, Nevada, New Mexico, North Carolina, Ohio, Texas, and Utah. (Information current as of April 1, 2023.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. 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.