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Travis Jennings Allegedly Recommended Unsuitable GWG L Bonds

Dec 9, 2022 Unsuitable Investments

Travis Jennings (CRD #: 5753812), a broker formerly registered with Dempsey Lord Smith, allegedly recommended an unsuitable investment, according to his BrokerCheck record, accessed on November 30, 2022. Investors may also have engaged his services through Finance Cape. If you want to know more about his alleged conduct as a broker, keep reading.

Investor Dispute

In a dispute filed on September 29, 2022, an investor alleged Travis Jennings and Encompass Financial Group (dba as Finance Cape) solicited and recommended that the client invest $500,000 in GWG Holdings’ L Bonds in October 2020.

The client alleges that these recommendations were contrary to their instructions, unsuitable given their investment objectives and risk tolerance, and failed to consider the client’s best interest.

The client seeks $500,000 in damages in this pending dispute.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. These profiles include information about an investor’s age, tax status, and financial goals. 

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms put their clients’ best interests first by conducting due diligence when making investment recommendations and disclosing any conflicts of interest.

Background Information

Travis Jennings has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 22 – Direct Participation Programs Representative Examination

He previously worked for Dempsey Lord Smith (CRD#:141238).

Kurta Law Can Help

If you worked with Travis Jennings and you have concerns about your investments, please contact us today at 877-600-0098 or 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.