John Nole: Paulson Advisor’s Clients Listed as GWG Creditors

Records filed with a US bankruptcy court disclose that at least six current or former customers of Paulson Investment Company advisor John Nole (CRD# 1609191) are listed as creditors for investments in GWG Holdings L bonds and/or preferred stock. The records describe investments totaling more than $1 million. Records maintained by the Financial Industry Regulatory Authority records show that Mr. Nole is currently based in St. Petersburg, Florida.

As an April 2022 report by the Wall Street Journal explained, GWG L bonds were issued by Dallas-based alternative asset manager GWG Holdings. Their ostensible function was to use investor funds to buy life insurance policies and repay investors when the policies pay out. GWG Holdings reportedly raised as much as $1.6 billion from investors, many of whom were retail investors. Later, the company underwent financial difficulties, received scrutiny from securities regulators at the SEC, and filed for Chapter 11 bankruptcy. Financial advisors who recommended investments in GWG Holdings that were not suitable for their customers may be liable for damages.

According to the Financial Industry Regulatory Authority, John Nole holds 36 years of securities industry experience. Based in St. Petersburg, Florida, he has been a broker and an investment advisor with Paulson Investment Company since 2016 and 2020, respectively. He is also registered with the firm’s office in Lake Oswego, Oregon. His past registrations include Aegis Capital Corporation (Tampa, Florida; 2014-2016), International Assets Advisory (Tampa, Florida; 2011-2014), Anderson & Strudwick (Tampa, Florida; 2010-2011), Westminster Financial Securities (Sarasota, Florida; 2010), Gunnallen Financial (Sarasota, Florida; 2004-2010 and Tampa, Florida; 2000-2004), Barron Chase Securities (Boca Raton, Florida; 1996-2000), RAS Securities Corporation (New York, New York; 1995-1996), VTR Capital (New York, New York; 1995), AT Brod & Company (Cleveland, Ohio; 1994-1995), J. Gregory & Company (1992-1994), Sovereign Equity Management Corporation (Deerfield Beach, Florida; 1992), JW Gant & Associates (1987-1992), and Graystone Nash  (1987-1988). His credentials include the passage of five 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; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He currently holds 26 state licenses. (Information current as of June 4, 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.