IMPORTANT NOTICE TO CUSTOMERS OF LAWRENCE GREENFIELD AND ARETE WEALTH MANAGEMENT WHO PURCHASED GWG L BOND INVESTMENTS

If You Suffered Losses With Financial Advisor Lawrence Greenfield Contact the Law Firm of KlaymanToskes

LOS ANGELES, CA, UNITED STATES, December 11, 2024 /EINPresswire.com/ -- National investment loss and securities lawyers KlaymanToskes issues an important notice to customers of Arete Wealth Management and former broker Lawrence Greenfield, after their recommendations to purchase unsuitable GWG L Bond investments caused two investors to suffer over $100,000 in damages. The law firm urges all customers of Lawrence Greenfield and Arete Wealth Management who suffered investment losses in GWG L Bonds, or any other investments, to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the law firm has filed a FINRA arbitration claim (Case no. 24-01711) against Arete Wealth Management on the behalf of two investors who are seeking to recover damages in excess of $100,000, in connection with being recommended to invest in unsuitable and illiquid GWG L Bond investments by their financial advisor, Lawrence Greenfield (CRD# 4056913).

According to the lawsuit filed by KlaymanToskes, the clients were an elderly retiree and her daughter, who sought safe investments for their retirement savings and were not interested in investing in high risk, speculative investments. With this knowledge and understanding, Arete Wealth Management through its financial advisor Lawrence Greenfield, solicited the customers to invest in GWG L bonds, which were misrepresented as low risk investments that provided income and the return of their principal at maturity.

Contrary to the representations made by Arete and broker Lawrence Greenfield, the GWG L bonds that were recommended to the customers were high risk, speculative, and lacked liquidity. For example, prior to the maturity of these GWG L Bonds, in January of 2022, the L Bonds stopped paying interest and then filed for Chapter 11 Bankruptcy.

Financial advisor Lawrence Greenfield was registered with Arete Wealth Management from September 2013 through July 2018 in Woodland Hills, CA. Thereafter, Greenfield was employed with LPL Financial from July 2018 through May 2020. Following his departure from Arete, it was uncovered that Greenfield may have been involved in a Ponzi scheme. According to FINRA BrokerCheck, Greenfield has four total pending customer complaints filed, which collectively allege over $1,500,000 in damages.

KlaymanToskes believes bondholders’ ideal option to maximize their recovery of losses is through the filing of a FINRA arbitration claim. The law firm is currently representing many GWG L Bondholders throughout the nation in FINRA arbitration claims against the brokerage firms and financial advisors that recommended the speculative L Bonds.

Former customers of Lawrence Greenfield and/or any other financial advisor who suffered investment losses in GWG L Bonds 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