Thad Bisselle: GWG L Bond Complaint Against Kingswood Advisor

A recent investor complaint against Rockville, Maryland financial advisor Thad Bisselle (CRD# 1199497) concerns an investment in L bonds issued by GWG Holdings, also known as GWG L bonds. Financial Industry Regulatory Authority records show that he is a broker with Kingswood Capital Partners and an investment advisor with Kingswood Wealth Advisors.

Mr. Bisselle’s BrokerCheck report discloses two investor complaints. The most recent, filed in December 2022, alleges that he recommended unsuitable investments in GWG L bonds in 2019, while a representative of Kingswood Capital Partners. More information about GWG Holdings, which reportedly raised more than $1 billion from investors in its L bond products before filing for bankruptcy and coming under SEC scrutiny, is available here. The pending complaint alleges damages of $35,000.

An earlier investor complaint, filed in 2013, concerned the sale of an auction rate security prior to the liquidity breakdown in the auction rate securities market. The complaint, which alleged unspecified damages estimated to exceed $5,000, which was denied by UBS Financial Services.

According to the Financial Industry Regulatory Authority, Thad Bisselle holds 38 years of securities industry experience. Based in Rockville, Maryland, he has been a broker with Kingswood Capital Partners and an investment advisor with Kingswood Wealth Advisors since 2018. His past registrations include Morgan Stanley (Rockville, Maryland; 2010-2018), UBS Financial Services (Rockville, Maryland; 2003-2010), Ferris Baker Watts (Baltimore, Maryland; 1986-2003), Laidlaw Adams & Peck (1985-1986) and Lang and Company (1984-1985). 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 the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Alaska, California, Colorado, Delaware, Florida, Maryland, Nevada, New Jersey, Pennsylvania, Texas, and Virginia. (Information current as of January 2, 2023.)

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