Don Everhart Fined by FINRA Following Recommendation of GWG L Bonds

Don Everhart (CRD #: 2150508) has been suspended by FINRA following allegations that he recommended risky GWG L Bonds. This is according to his BrokerCheck record, accessed on September 4, 2025. Keep reading if you have questions concerning his alleged conduct. 

Regulatory Action

On June 30, 2025, Don Everhart entered into an Acceptance, Waiver, and Consent agreement (AWC) with FINRA, in which he consented to the findings that he violated Regulation Best Interest with his recommendation to invest in speculative GWG L Bonds. GWG Holdings has since filed for bankruptcy and defaulted on its obligations to bondholders. 

Don Everhart allegedly recommended that his client invest at least 40% of his client’s net worth, excluding their primary residence, in L bonds. The AWC alleges that the customer had a conservative risk tolerance and had expressed a desire to conserve capital. 

Don Everhart allegedly earned $7,500 in commissions. As part of his AWC, he agreed to pay a fine of $7,500 and a partial restitution of $100,000 plus interest. You can read a copy of the AWC here. 

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information 

Don Everhart has registered with the following firms: 

• Emerson Equity (CRD #: 130032)
• Whitehall-Parker Securities (CRD #: 10608) 
• Quest Capital Strategies (CRD #: 16783) 
• Essex National Securities (CRD #: 25454)
• Investors Capital Corp (CRD #: 30613) 
• Waddell & Reed (CRD #: 866) 
• John Hancock Distributors (CRD #: 468) 
• John Hancock Mutual Life Insurance Company (CRD #: 5181) 
• Baraban Securities (CRD #: 7659) 

Kurta Law Can Help

If you worked with Don Everhart 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 that 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.