In the buzzing city of Boca Raton, Florida, there’s a man whose name continually crops up in the financial field – John Forrester, a broker with Newbridge Securities Corporation. Yet, all might not be as it seems. Financial Industry Regulatory Authority records illuminate an image of a man under fire, with a recent complaint alleging unsightly losses of over $200,000 connected to an investment in GWG Holdings. But, don’t you wonder how deep this rabbit hole goes?
The Diligence of Investors
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Like a six-parted fugue, numerous investor complaints resurface in Forrester’s BrokerCheck report. The most recent complaint – think of it as the melody that brings a climax to the composition – was filed in May 2023. Here, our broker-turned-conductor stands accused of breaching his fiduciary duty and contract, acting negligently, and committing fraud tied to the investment in GWG Holdings. Before judging the song, should we not consider other parts of the composition?
Step back to 2019, where another note strikes a familiar chord. An investor complaint alleging a smorgasbord of accusations – breach of contract, negligence, and breach of fiduciary duty – all connected to alternative investments, settling at $7,500.
A History of Complaints
- In 2009, a complaint alleged fraud, negligent misrepresentation, and omission of material facts connected to stock investments, which resulted in a payout of $108,315.02 after becoming an arbitration proceeding.
- In 1997, another complaint surfaced, accusing Forrester of unsuitable investment recommendations, concentration, and churning, which again went to arbitration, compelling a payout of $50,000 to the customer.
- 1993 there were alleged misrepresentations and unsuitable investment recommendations while Forrester was with Prudential Securities, which settled for $30,000 in 1994.
Resounding Experience Amidst Repercussion
According to the Financial Industry Regulatory Authority, raw experience is not wanted in our maestro’s resume. Forrester boasts a 42-year-old career in the securities industry. His bouquet of licenses includes registrations from more than a dozen authorities. However, along the river of time, something seems to keep causing ripples, doesn’t it?
Haselkorn & Thibaut: Your Financial Guardians
As these stories untangle, they raise obvious questions – are your investments safe? Are you in the trustworthy hands of your financial advisor? Haselkorn & Thibaut, investment fraud lawyers, stand ready to help. Should you or your loved ones suffer from investment losses, they are merely a call away at 1-800-856-3352. Contact them for a free, confidential consultation and let their experience guide you through the labyrinth of investment losses.
