Mark Cline Reportedly has 17 Customer Complaints Alleging Unsuitable Investment Recommendations
According to the Financial Industry Regulatory Authority’s website, financial advisor Mark Alan Cline (CRD#: 3206962) of Wildwood, Florida reportedly has 17 customer complaints on his broker record. According to FINRA, 6 complaints are currently pending, and the two most recent complaints reportedly involve unsuitable recommendations in the high risk, illiquid GWG L Bonds investment sponsored by GWG Holdings.
GWG Holdings, a Dallas-based financial services firm filed for Chapter 11 bankruptcy protection on April 20, 2022 after failing to make $13.6 million in interest payments to bondholders in January.
The White Law Group continues to investigate potential securities claims involving broker dealers who may have improperly recommended GWG L Bonds to investors. The firm is currently representing numerous clients who have suffered GWG losses. See: The White Law Group Announces another Lawsuit Involving GWG L Bonds.
According to his FINRA BrokerCheck profile, Cline was reportedlyregistered with the following firms during his securities career, among others:
01/08/2014 – 01/21/2022, NATIONAL SECURITIES CORPORATION (CRD#:7569), WILDWOOD, FL,
B, 10/22/2021 – 01/04/2022, B. RILEY WEALTH MANAGEMENT (CRD#:2543), Boca Raton, FL
B, 08/12/2010 – 12/31/2013, GREAT NATION INVESTMENT CORPORATION (CRD#:19981), FT. LAUDERDALE, FL
Cline is reportedly not currently registered as a broker or as an investment advisor, according to his broker profile.
Potential Lawsuits to Recover Financial Losses
Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.
When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
If you suffered investment losses with Mark Cline and National Securities Corp., the securities attorneys at The White Law Group may be able to help you. Please call 888-637-5510 for a free consultation, or visit us on the web at www.whitesecuritieslaw.com.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington.
Tags: Mark Cline financial advisor, Mark Cline FINRA, Mark Cline Gwg L bonds, Mark Cline investigation, Mark Cline lawsuit, Mark Cline National Securities Corp, Mark Cline recovery options, Mark Cline securities fraud attorney, Mark Cline Wildwood FL, Securities Lawyer Last modified: December 6, 2022