PORTSMOUTH FINANCIAL GWG Bond Clients

Soreide Law Group is currently investigating potential claims made by investors who purchased GWG L Bonds through PORTSMOUTH FINANCIAL SERVICES and/or their registered representative, KELLY S LAWSON (Also known as KELLY S OTOOLE, KELLY SUELLYN OTOOLE).  Allegedly, other PORTSMOUTH FINANCIAL clients may have also been sold GWG L Bonds in large concentrations.
According to a recent article in InvestmentNews, last month, GWG, which sold $1.6 billion in bonds backed by life insurance settlements through a network of approximately 140 independent broker/dealers, filed Chapter 11 bankruptcy protection. According to the article, there were many red flags about the GWG bonds, which oftentimes paid brokers high commissions when they sold them to their clients. In 2019, GWG told the SEC twice, and the public, in filings that it wasn’t going to be able to file its quarterly or annual financial statements on time, always a danger sign. Also, in March of 2020 when the company filed their annual report, it warned of weaknesses allegedly linked to, among a list of items, the financial reporting process and insufficient accounting resources.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, KELLY S LAWSON, is registered both as a broker and a financial advisor, with no disclosures on FINRA’s CRD report.  Lawson has been in the securities industry for 36 years and has been registered with 10 firms.  The most recent are listed below:
KELLY S LAWSON is currently listed as a broker with the following firm since 9/11/2018:
PORTSMOUTH FINANCIAL SERVICES
100 Smith Ranch Road
Suite 110
SAN RAFAEL, CA 94903
Lawson has been listed with the following firm as an Investment Advisor since 8/22/2018:
THE PUTNEY FINANCIAL GROUP, REGISTERED INVESTMENT ADVISORS
100 Smith Ranch Road
Suite 110
SAN RAFAEL, CA 94903
Lawson was previously listed with:
08/16/2018 - 06/24/2019  PORTSMOUTH FINANCIAL SERVICES – SAN FRANCISCO, CA
10/28/2008 - 10/03/2016  PRESIDIO CAPITAL INVESTORS LLC – SAN FRANCISCO, CA 
If you’ve suffered financial losses in GWG Bonds due to the actions or recommendations of PORTSMOUTH FINANCIAL SERVICES and/or their broker-financial advisor, KELLY S LAWSON, 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 clients nationwide before FINRA.