William Fuentes: Centaurus Advisor’s Clients Listed as GWG Creditors

Records filed with a US bankruptcy court indicate that at least ten current or former customers of Centaurus Financial advisor William Fuentes (CRD# 2829988) are listed as creditors for investments in GWG Holdings L bonds and/or preferred stock. The records, filed in Texas, describe investments totaling more than $1 million. Financial Industry Regulatory Authority records show that Mr. Fuentes is currently based in Simi Valley, California.

Investors should be aware that GWG L bonds, which were issued by alternative asset firm GWG Holdings before it filed for bankruptcy in April 2022, may not have been suitable for conservative and/or unsophisticated investors. More information about GWG L bonds is available via this investor resource.

Mr. Fuentes’ BrokerCheck report discloses his 2013 departure from Royal Alliance Associates. According to the disclosure, he was “permitted to resign” from the firm “during [a] review regarding submission of certain variable annuity business.”

According to the Financial Industry Regulatory Authority, William Fuentes holds 38 years of securities industry experience. Based in Simi Valley, California, he has been a broker and an investment advisor with Centaurus Financial since 2019 and 2021, respectively. His past registrations include Questar Capital Corporation (Simi Valley, California; 2016-2018), First Allied Securities (Simi Valley, California; 2014-2016), National Planning Corporation (Simi Valley, California; 2013-2014), Royal Alliance Associates (Westlake Village, California; 2002-2013), Wealthcare Alliance (Thousand Oaks, California; 2006-2009), Wachovia Securities (St. Louis, Missouri; 2001-2002), WM Financial Services (Irvine, California; 1998-2001), Great Western Financial Securities Corporation (Northridge, California; 1996-1998), IDS Marketing Corporation (1985-1986), and IDS Financial Services (1985-1986). His credentials include the passage of seven securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Direct Participation Programs Representative Examination, or Series 22; 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 is licensed in Arizona, California, Florida, and Nevada. (Information current as of May 31, 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.