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John Forrester: $200K GWG Complaint 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 several investor complaints. The most recent, 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 pending complaint alleges damages of $200,000.
An earlier investor complaint, filed in 2019, similarly alleged breach of contract, negligence, and breach of fiduciary duty in connection with alternative investments. The complaint reached a settlement of $7,500.
A third 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.
A fourth investor complaint, filed in 1997, alleged unsuitable investment recommendations, concentration, and churning. This complaint also evolved into an arbitration proceeding before a FINRA panel, which issued an award to the customer of $50,000.
A fifth investor complaint, filed in 1993, alleged misrepresentation and unsuitable investment recommendations while he was a representative of Prudential Securities. In 1994 the complaint reached a settlement of $30,000.
According to the Financial Industry Regulatory Authority, John Forrester holds 42 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.)
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.