John Nole Facing a $250,000 Investor Dispute

John Nole (CRD #: 1609191), a broker registered with Paulson Investment Securities, is facing allegations that he recommended an unsuitable investment, according to his BrokerCheck record, accessed on July 21, 2023. Keep reading for more details. 

On May 24, 2023, an investor alleged that John Nole made unsuitable recommendations to purchase $250,000 of GWG L Bonds. The issuer, GWG Holdings, has filed for bankruptcy. L bonds were risky investments that did not have a credit rating. Brokers should have known that these investments could lead to substantial losses. 

The investor is seeking $250,000 in this pending dispute. 

FINRA Rule 2111 – Unsuitable Investments

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Financial goals
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

Background Information 

John Nole has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 24 General Securities Principal Examination 

He is a registered broker in 23 states and the District of Columbia. He is also a registered investment adviser in California, Florida, and Virginia. 

John Nole has previously registered with the following firms: 

• Aegis Capital Corp (CRD #: 15007) 
• International Assets Advisory (CRD #: 10645) 
• International Assets Investment Management (CRD #: 144426) 
• Anderson & Strudwick Incorporated (CRD #: 48) 
• Westminster Financial Advisory Corp (CRD #: 110283) 
• Westminster Financial Securities (CRD #: 20677) 
• Gunnallen Financial (CRD #: 17609) 
• Barron Chase Securities (CRD #: 18969) 
• RAS Securities Corp (CRD #: 28212) 
• VTR Capital (CRD #: 21404) 
• A.T. Brod & Co. (CRD #: 1319) 
• J. Gregory & Company (CRD #: 14892) 
• Sovereign Equity Management Corp (CRD #: 20016) 
• J.W. Gant & Associates (CRD #: 7963) 
• Graystone Nash (CRD #: 10635) 

Kurta Law Can Help

If you worked with John Nole and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.