John Forrester: GWG Complaints Against Newbridge Advisor

Boca Raton, Florida financial advisor John Forrester (CRD# 728188) recently received an investor complaint alleging six-figure losses in connection with an investment in GWG Holdings. Financial Industry Regulatory Authority records show that he is a broker with Newbridge Securities Corporation.

Mr. Forrester’s BrokerCheck report discloses numerous investor complaints. The most recent, filed in September 2024, alleges that as a Newbridge Securities representative, he breached his fiduciary duty, breached contract, and acted negligently in connection with investments in GWG. The pending complaint alleges $25,000.

A second investor complaint, filed in July 2024, similarly alleged that as a Newbridge representative, he breached contract, acted negligently, violated Regulation Best Interest, and breached his fiduciary duty. The pending complaint alleges damages of $53,500.

A third investor complaint, filed in April 2024, alleges that he violated federal securities laws, acted negligently, committed fraud, and breached contract in connection with GWG investments. The pending complaint alleges damages between $100,000 and $500,000.

A fourth investor complaint, also filed in April 2024, alleged that he committed fraud, acted negligently, and breached his fiduciary duty when recommending alternative investments and stocks. The pending complaint alleges damages between $100,000 and $500,000.

A fifth investor complaint, filed in May 2023, alleges that as a representative of Newbridge Securities Corporation, he breached his fiduciary duty, breached contract, acted negligently, and committed fraud in connection with an investment in GWG Holdings. The complaint reached a settlement of $102,000.

A sixth investor complaint, filed in 2009, alleged fraud, negligent misrepresentation and omission of material facts, and breach of contract in connection with stock investments. The complaint evolved into an arbitration proceeding before a FINRA panel, which issued an award to the customer of $108,315.02.

According to the Financial Industry Regulatory Authority, John Forrester holds 43 years of securities industry experience. Based in Boca Raton, Florida, he has been a broker with Newbridge Securities since 2010. His past registrations include Wasserman & Associates, Thos K. Wasserman & Associates, Dean Witter Reynolds, Prudential Securities, Thomson McKinnon Securities, Richardson Greenshields Securities, Arch W. Roberts & Company, Cralin & Company, Fittin Cunningham & Lauzon, and Herzfeld & Stern. His credentials include the passage of three securities industry qualifying exams: 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, Florida, Georgia, Illinois, Maryland, Massachusetts, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, the Virgin Islands, Virginia, Washington, and Wisconsin. (Information current as of July 26, 2023.)

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