IMPORTANT NOTICE TO JOHN WOLF/CORNERSTONE FINANCIAL PLANNING CUSTOMERS WHO PURCHASED GWG L BONDS

Investment Losses in GWG L Bonds With Financial Advisor John Wolf? Contact KlaymanToskes Immediately

NEW YORK, NY, USA, June 20, 2024 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes is investigating Cornerstone Financial Planning and financial advisor John William Wolf, after his unsuitable recommendations of investments in GWG L Bonds resulted in an award of $613,825 in compensatory damages for two investors in a FINRA arbitration lawsuit. Customers of John Wolf and/or any other financial advisor at Cornerstone Financial Planning who suffered investment losses in GWG L Bonds should contact the law firm immediately at 888-997-9956.

According to the lawsuit filed against Cornerstone Financial Planning and financial advisor John William Wolf (CRD# 1846080), the customers alleged unsuitable recommendations to invest in GWG L Bonds, in addition to misrepresentation, negligence, gross negligence, and breach of fiduciary duty. In April 2022, GWG Holdings, Inc. filed for bankruptcy (Case No. 22-90032), suspending their monthly dividends and leaving investors without access to their principal. GWG L bondholders are owed over $1.3 billion, however, GWG’s ability to monetize its assets remains highly uncertain and unlikely.

Most recently, on January 29, 2024, financials were filed with the bankruptcy court by the GWG Wind Down Trustee which confirmed that L bondholders will only receive a small fraction of their investments from the bankruptcy. Accordingly, it is in bondholders’ best legal interest to maximize their recovery of losses by filing FINRA arbitration claims against the brokerage firms and financial advisors who sold these unsuitable products, such as Cornerstone Financial Planning.

Financial advisors and their firms are responsible for providing suitable investment advice and must act in the best interest of their customers. Investment firms may be held liable for any losses incurred by their customers in the event of unsuitable investment recommendations, misrepresentations or omissions of material facts, and/or an overconcentration of the customer’s portfolio in one particular investment, class, or market sector. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making investment recommendations.

Current and former customers of John Wolf and/or any other financial advisor who suffered investment losses at Cornerstone Financial Planning are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Contact

Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com