Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker John William Wolf [CRD: 1846080, Appleton, Wisconsin].
Evidently, John Wolf worked for several firms throughout his career, including Purshe Kaplan Sterling Investments from November 2009 to January 2016, Raymond James Financial Services from June 1996 to September 2009, and Banc One Securities Corporation from January 1994 to June 1996. Currently, Wolf is President of Cornerstone Financial Planning, Inc.
Recent disclosures reveal concerns about Wolf’s conduct, including allegations of misrepresentation, unsuitability, and breach of fiduciary duty. Below is a closer look at these issues.
On May 8, 2023, a client of Cornerstone Financial Planning alleged breach of fiduciary duty, misrepresentation, negligence, and violation of securities law in the sale of GWG L Bonds in February 2021. The dispute settled for $65,000, fully contributed by Wolf.
On April 12, 2023, a FINRA arbitration case [Case No. 23-00946] was filed, alleging unsuitability, misrepresentation, negligence, and breach of fiduciary duty in violation of the North Carolina Securities Act. On June 4, 2024, the arbitration panel awarded $613,825 in compensatory damages to the clients. Wolf and Cornerstone Financial Planning are jointly and severally liable for this amount.
On March 24, 2023, a client’s attorney issued a request for an arbitration. The allegations pertain to the sale of GWG L Bonds.
Ready to learn more? First, reach out to Soreide Law Group online (click here) or at (888) 760-6552 to speak with a securities attorney. Soreide Law Group takes cases on a contingency basis and advances all costs upfront. Wolf and the firms he worked for deny accusations of sales practice violations.
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