WILL R YOUNG Sale of GWG L Bonds

Were you a client of WILLIAM ROBERT YOUNG (BILL YOUNG, WILL R YOUNG) and were recommended purchasing GWG L Bonds or Spring Hill Holdings? Currently Young is registered both as an investment advisor and as a broker with AMERIPRISE FINANCIAL SERVICES, LLC of Gaithersburg, Maryland since 10/16/2023.  WILL R YOUNG was previously registered as an investment advisor with KINGSWOOD WEALTH ADVISORS, LLC of Rockville, Maryland, from 03/15/2018 - 11/03/2023 and as a broker with KINGSWOOD CAPITAL PARTNERS, LLC of Rockville, Maryland, from 06/15/2018 - 11/03/2023.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, WILL R YOUNG, has 20 years of experience in the securities industry and has been with 10 firms.  Young has 11 disclosures on his FINRA CRD report.  One of the disclosures is an “Employment Separation after Allegations” dated 11/16/2009. WILL R YOUNG was permitted to resign from UNITED BROKERAGE SERVICES, INC. following the allegations of, “MULTIPLE VIOLATIONS OF FIRM POLICY AND PROCEDURE.” Another disclosure is a “Regulatory” dated 12/11/2009 which suspended for Young for 30 days and fined him $5,000.00.

The other 9 disclosures on WILL R YOUNG’s FINRA CRD report are “Customer Complaints.” The significance of Young’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, WILL R YOUNG’s customer complaints rank him in the top one-hundredth percent of all registered representatives for customer complaints. 

Of the 9 “Customer Complaints” against WILL R YOUNG, 3 have settled and 6 are pending. The most recent complaint filed is dated 6/3/2025, listing these allegations, “Claimant states that representative recommended GWG L Bond and Spring Hill Holdings to client. Client states misrepresentation of safety of investments and states that he was looking for investments to generate income and protect his principal. Claim seeks damages of $100,000 for unsuitable investments, failure to act in customers best interest, misrepresentation and omissions, breach of fiduciary duty, breach of contract, failure to supervise, negligence and violation of federal securities laws.”  The damages requested are $100,000.00.

Another dispute filed 1/2/2025 against WILL R YOUNG lists the following allegations, “Clients claim Willian Young failed to conduct a reasonable due diligence on the GWG investment, the GWG investment was misrepresented to the clients, and the GWG investment was unsuitable for the clients in view of their financial situations and needs, investment objectives and risk tolerance for their account.”  The damage amount requested is $101,400.00.  Three additional disputes list GWG in the allegations.

Many investors, including elderly retirees, were allegedly misled into believing GWG L Bonds were low-risk, secure investments, when in fact GWG L Bonds were high-risk and considered unsuitable for many investors. GWG L Bonds were speculative, high-risk, and illiquid securities sold as private placement through broker/dealers nationwide.

Soreide Law Group has successfully brought dozens of cases before FINRA involving GWG L Bond sales.  If your broker/dealer or financial advisor recommended GWG L bonds to you and you’ve suffered significant investment losses, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your financial losses at:  888-760-6552.

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