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Matthew Childs: Portsmouth Advisor Faces GWG L Bond Complaint
San Francisco financial advisor Matthew Childs (CRD# 3110916) allegedly recommended an unsuitable GWG L bond investment, according to a recent investor complaint. Records provided by the Financial Industry Regulatory Authority indicate that he is a broker with Portsmouth Financial Services.
Mr. Childs’ BrokerCheck report describes several investor complaints. The most recent, filed in February 2023, alleges that he recommended an unsuitable “high risk, high commission, illiquid alternative investment” in a GWG L bond, failed to conduct reasonable due diligence, and falsely represented the product “as a safe investment that would produce a generous return.” The pending complaint alleges unspecified damages estimated to exceed $5,000.
An earlier investor complaint, filed in 2015, alleged that as a representative of Morgan Stanley, he “misrepresented the risk of municipal bonds which were unsuitable for the trust account.” The complaint reached a settlement of $200,000.
A third investor complaint, filed in 2012, alleged that he misrepresented material facts relating to a foreign bond while at Morgan Stanley Smith Barney. The complaint reached a settlement of $33,123.48.
According to the Financial Industry Regulatory Authority, Matthew Childs holds 22 years of securities industry experience. Based in San Francisco, California, he has been a broker with Portsmouth Financial Services since 2016. His registration history includes Select Planning Group (Irvine, California; 2015), Oppenheimer & Company (San Diego, California; 2014), Morgan Stanley (San Diego, California; 2010-2014), Southwest Securities (San Diego, California; 2008-2011), ML Stern & Company (San Diego, California; 2000-2009), and JWGenesis Financial Group (Boca Raton, Florida; 1999-2000). His credentials include the passage of four securities industry qualifying exams: 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 Uniform Combined State Law Examination, or Series 66. He is licensed in Alaska, Arizona, Arkansas, California, Colorado, Florida, Oregon, and Texas. (Information current as of March 12, 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.