IMPORTANT NOTICE TO CUSTOMERS OF WILLIAM DUFFY/WD WEALTH STRATEGIES AND EMERSON EQUITY WHO PURCHASED GWG L BONDS

GWG L Bond Losses with William Duffy at WD Wealth Strategies/Emerson Equity? Contact KlaymanToskes Immediately

LONE TREE, CO, USA, May 22, 2024 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes¹ is investigating Emerson Equity and financial advisor William Duffy, after his recommendations of GWG L Bonds and other alternative investments caused a family to suffer up to $1,000,000 in damages. The law firm urges all current and former customers of William Duffy and Emerson Equity 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 (no. 24-00856) against Emerson Equity, Accelerated Wealth Advisors, Duffy Financial/WD Wealth Strategies, and financial advisor William Duffy (CRD# 6726333)², on behalf of a family of investors who are seeking to recover up to $1,000,000 in investment losses in connection with being recommended to invest in unsuitable investments, including the following:
- GWG L Bonds,
- Carter Multi-Family Growth and Income Fund II,
- Hamilton Point,
- Madison Capital Group,
- NB Student Housing Fund II,
- Next Point, and
- Ohio National Whole Life Insurance policies.

According to the lawsuit filed by KlaymanToskes, the investors sought an investment strategy that would help plan for their retirement years, and did not want to speculate or take aggressive risks. The alternative investments recommended by Duffy were unsuitable as they are speculative, lack liquidity and incorporate significant risk that was not appropriate for the investors. Many of the alternative investments recommended by Duffy have stopped paying dividends, continue to be illiquid and/or have filed for Bankruptcy.

Emerson Equity was the managing broker-dealer for GWG L Bonds and marketed the L Bonds as safe, low risk, income producing investments. Emerson Equity claimed that the interest rate was guaranteed and that there was no market risk as the L Bonds did not trade on the stock market. KlaymanToskes’ investigation found that Emerson Equity and its financial advisors had a conflict of interest in the sale of the L Bonds, as the firm and its representatives received commissions ranging from 0.75% to 5.00% of the principal amount of L Bonds sold, depending on the L Bonds’ maturity date, as well as other forms of compensation.

In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspended monthly dividends, and left investors without access to their principal. 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 Emerson Equity.

William Duffy was employed by Emerson Equity from November 2016 through February 2022, and is no longer licensed as a broker with FINRA. Duffy created Duffy Financial, LLC in 2014, and also did business as WD Wealth Strategies in Lone Tree, Colorado. Duffy was also previously registered with Sharenett Securities from February 2022 to November 2023 and with Innovation Partners from August 2022 to January 2024.

Current and former customers of William Duffy who suffered losses in GWG L Bonds and/or any other investments are encouraged to contact attorney Steven D. Toskes³ 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

¹ http://klaymantoskes.com/contact/
² http://klaymantoskes.com/broker-investigation/broker-misconduct-investigation-william-duffy-wd-wealth-strategies/
³ http://klaymantoskes.com/team/steven-d-toskes/