Investors Allege John Nole Recommended Unsuitable GWG Holdings L Bonds

John Nole (CRD #: 1609191), a broker registered with Paulson Investment Company, is facing allegations that he recommended unsuitable investments, according to his BrokerCheck record, accessed on May 21, 2025. Keep reading for more details. 

Investor Disputes

On February 14, 2025, several investors filed a dispute alleging that John Nole made unsuitable recommendations of GWG Holdings L Bonds. The clients seek $90,000 in this pending dispute.

A dispute filed on October 22, 2024, alleged that John Nole made unsuitable recommendations of GWG L Bonds and misrepresented these bonds as being safe and backed by life insurance policies. The investors further alleged that Paulson Investment Company failed to conduct reasonable due diligence. This dispute seeks $400,000 in damages.

On March 1, 2024, multiple investors similarly alleged that John Nole misrepresented and made unsuitable recommendations of GWG L Bonds, and that his firm failed to adequately conduct due diligence. This dispute was settled for $575,000.

On May 24, 2023, an investor alleged that John Nole made unsuitable recommendations to purchase $250,000 of GWG L Bonds from October 20, 2020, through January 19, 2021. This dispute was settled for $145,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Financial goals
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

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.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Background Information 

John Nole has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 24 General Securities Principal Examination 

He is a registered broker in 26 states and the District of Columbia.

John Nole has registered with 17 firms. These are the ten most recent:

• Paulson Investment Company (CRD#:5670)
• Paulson Investment Advisors (CRD#:304328)
• Aegis Capital Corporation (CRD #: 15007) 
• International Assets Advisory (CRD #: 10645) 
• International Assets Investment Management (CRD #: 144426) 
• Anderson & Strudwick Incorporated (CRD #: 48) 
• Westminster Financial Advisory Corp (CRD #: 110283) 
• Westminster Financial Securities (CRD #: 20677) 
• Gunnallen Financial (CRD #: 17609) 
• Barron Chase Securities (CRD #: 18969) 
• RAS Securities Corp (CRD #: 28212) 

Kurta Law Can Help

If you worked with John Nole 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 and 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.