ERIC SCOTT FELSENFELD of Rockville, Maryland

Soreide Law Group has been contacted by clients of ERIC SCOTT FELSENFELD (CRD#: 4496689) a broker/financial advisor with KINGSWOOD CAPITAL PARTNERS of Rockville, Maryland, who were allegedly recommended they purchase GWG L Bonds.
In an April 4, 2022 article from the Wall Street Journal, they state that GWG Holdings Inc., a company known for selling life insurance bonds, is preparing to file for bankruptcy in the coming days after accounting issues and the resignation of their auditor prevented GWG from selling its products, according to their sources. Dallas-based GWG created the L Bonds, which pooled money from the bond investors to purchase life insurance policies on the secondary market, and then when people died, used the money from the payouts to pay the investors. The company sold the bonds through broker/dealers.
As Bruce Kelly from InvestmentNews writes in a recent article, “No news is bad news for the financial advisers and brokers who sold $1.3 billion of GWG’s so-called L Bonds to their clients over the past several years.” Kelly adds, “It’s getting ugly very quickly for the GWG L bonds, their investors, and the financial advisers and brokers who sold them. “
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, ERIC SCOTT FELSENFELD, has been in the securities industry for 19 years and has 2 disclosures on his FINRA CRD report.  Both of the disclosures are “Customer Disputes,” one was denied and one settled. The dispute dated January 15, 2021 alleged, “Clients allege that Financial Professional misrepresented the risks associated with BDCs and REITs and that the investments were unsuitable. Date of Activity: 11/12/15 to 5/25/16.” The settlement amount was $30,000.00.
ERIC SCOTT FELSENFELD has been listed with 10 firms in his 19 years in the securities industry, and is currently with the following firm since 10/18/2017:
KINGSWOOD CAPITAL PARTNERS
2600 Tower Oaks Boulevard Suite 220
Rockville, MD 20852
If broker/financial adviser, ERIC SCOTT FELSENFELD, with KINGSWOOD CAPITAL PARTNERS of Rockville, Maryland, made recommendations to purchase the high-risk, GWG L bonds, and you experienced financial losses, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis, no fee if no recovery, and represents our clients nationwide before FINRA.