JAMIE NOWAKOWSKI and COASTAL EQUITIES Lawsuit

Soreide Law Group has filed a FINRA arbitration on behalf of their client (Claimant) against:

COASTAL EQUITIES, INC., and their former registered representative, and JAMIE NOWAKOWSKI (Respondents).

The Claimant is in his seventies, retired, and living in Connecticut. The lawsuit states that the Claimant was looking to generate a safe and stable income to sustain himself through retirement. According to the lawsuit the Claimant met COASTAL EQUITIES broker, JAMIE NOWAKOWSKI, through mutual friends. The lawsuit claims that the Claimant has struggled with dementia for the past several years and he now has given someone power of attorney to handle his finances.

The lawsuit alleges that on or about July of 2018, JAMIE NOWAKOWSKI recommended the Claimant invest $190,000 into 3 GWG Holdings L bonds and allegedly presented it to the Claimant as “asset backed” and safe with little to no risk.

According to the lawsuit, allegedly JAMIE NOWAKOWSKI also reiterated on multiple occasions that GWG related investments are safe, secure, and asset backed.  Allegedly, Nowakowski did not mention that the company was losing hundreds of millions of dollars in bad investments and GWG was reliant upon new investor funds to stay afloat. JAMIE NOWAKOWSKI allegedly stated that she personally owned GWG L bonds which the lawsuit claims gave the Claimant a greater sense of security. On April 20^th, 2022, GWG Holdings filed Chapter 11 bankruptcy which is now almost certain the Claimant will lose over 90% of his irreplaceable retirement savings invested in GWG L bonds.

The lawsuit alleges that COASTAL EQUITIES and their representative JAMIE NOWAKOWSKI’s actions have caused damages to the Claimant of approximately $190,000.00. The lawsuit is alleging breach of fiduciary duty, negligence, and negligent supervision.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, JAMIE THERESA NOWAKOWSKI (JAMIE NOWAKOWSKI, JAMIE THERESA OGREN, JAMIE T STELLA), has been in the securities industry for 23 years and has been listed with 7 firms. She was previously registered both as a broker and as an investment advisor but is not currently registered. After leaving COASTAL EQUITIES of Hebron, Connecticut, NOWAKOWSKI was with EQUITABLE ADVISORS LLC of Venice, Florida, from 02/11/2020 - 01/07/2025.

JAMIE NOWAKOWSKI has 6 disputes on her FINRA CRD report.  All 6 are “Customer Disputes,” 2 are pending and 4 have settled.  The significance of NOWAKOWSKI’s disclosures is underscored in FINRA NOTICE to MEMBERS 03-49. FINRA conducted a review of the CRD’s of all registered representatives, only .41% had been the subject of 3 or more customer complaints. In other words, JAMIE NOWAKOWSKI’s customer complaints rank her in the top one-hundredth percent of all registered representatives for customer complaints. 

To discuss this article or any other securities related issues, contact Soreide Law Group and speak to an experienced securities lawyer at no cost at:  888-760-6552.

Soreide Law Group represents clients nationwide before FINRA on a contingency fee basis, no fee to you if no recovery.