Mark Reisbord: Centaurus Advisor’s Client Among GWG L Bond Creditors

Records filed with a US bankruptcy court reveal that at least one former client of Centaurus Financial advisor Mark Reisbord (CRD# 1017607) is listed as a creditor for an investment in an L Bond issued by GWG Holdings. The records describe an investment of $120,000. Financial Industry Regulatory Authority records show that Mr. Reisbord is currently based in Montgomery, Texas, where he does business as Reisbord Financial Group.

Mr. Reisbord’s BrokerCheck report discloses two investor complaints. The most recent, filed in 2010, alleged that as a representative of Centaurus Financial, he recommended unsuitable, illiquid investments in a real estate investment trust and an LLP. The complaint alleged unspecified damages and was denied by the firm.

An earlier investor complaint, filed in 1999, alleged that as a representative of AXA Advisors, he “sold unauthorized shares, resulting [in] unnecessary tax consequences.” The complaint reached a settlement of $6,000.

Investors should be aware that GWG Holdings, known for its “L bond” product raised investor funds to purchase life insurance policies on the secondary market, filed for bankruptcy in April 2022, following various financial difficulties and an investigation by the SEC. These investments may not have been suitable for conservative and/or unsophisticated investors; if your advisor misrepresented and/or unsuitably recommended them to you, they may be liable for damages. More information about GWG L bonds is available via this investor resource.

According to the Financial Industry Regulatory Authority, Mark Reisbord holds 41 years of securities industry experience. Based in Montgomery, Texas, he has been a broker and an investment advisor with Centaurus Financial since 2000 and 2008, respectively, doing business as Reisbord Financial Group. His past registrations include Ellis-Reisbord Financial Group (Houston, Texas; 2001-2007), AXA Advisors (New York, New York; 1982-2000), and the Equitable Life Assurance Society of the United States (New York, New York; 1982-2000). His credentials include the passage of six securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; 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; the Uniform Investment Adviser Law Examination, or Series 65. He is currently licensed in Arizona, California, Colorado, Michigan, Missouri, North Carolina, Texas, and Virginia. (Information current as of June 1, 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.