Bo Nicholson Involved in GWG L Bond Dispute

Bo Nicholson (CRD# 6050450[1]), a broker registered with Capital Investment Group, violated securities law when selling GWG L Bonds[2], according to an investor dispute. MDF Law is investigating the Raleigh, North Carolina financial professional for similar conduct. If you have concerns about investments in your accounts, contact us for a free consultation.

To learn more about the dispute involving Mr. Nicholson, continue reading this post. The information herein is based on an October 21, 2024 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record.

GWG L Bond Allegations Seek 6-Figure Damages

On September 12, 2024, an investor filed a dispute involving Mr. Nicholson. The claim alleges breach of contract, violation of state securities statutes, and breach of fiduciary duty related to the sale of GWG L Bonds. The dispute, which is still pending, seeks $100,000 to $500,000 in damages.

GWG L Bonds Were Risky Investments

GWG Holdings filed for bankruptcy in April 2022. Based in Texas, the firm was known for its “L Bonds,” which raised investor funds to purchase secondary-market life insurance policies. These bonds were complex and high-risk investments, as GWG’s prospectus disclosed. As it specified, they were “only suitable for persons with substantial financial resources and with no need for liquidity.” Before the company filed for bankruptcy, it defaulted on its obligations to bond investors and stopped issuing the bonds. At the time that it filed for bankruptcy, it was under investigation by the Securities and Exchange Commission—which has since brought charges against a firm that marketed the products. 

If you suffered losses investing in GWG L Bonds, you may be able to file a FINRA arbitration claim against the broker-dealer firm that marketed them. Claimants who successfully receive a recovery through the arbitration process will still be eligible for any payments issued through GWG Holdings’ bankruptcy process.

Bo Nicholson, Financial Resource Management Representative

The website for Financial Resource Management[3], which offers securities through Capital Investment Group, features a profile of Mr. Nicholson. As it outlines, he grew up in Raleigh, North Carolina and joined the firm after completing a training program at Merrill Lynch. “Bo is focused on assisting clients in every stage of their unique financial journey,” the bio reads. “He uses a hands-on approach and frequent, personal client communications to focus on what clients truly need.”

FINRA: Broker Based in Raleigh, North Carolina

Mr. Nicholson launched his career as a broker in 2012. That year, he registered with Merrill Lynch’s branch office in Durham, North Carolina. He remained there until 2016, at which point he departed for Capital Investment Group. He is still registered with that firm today, based at its office in Raleigh, North Carolina. Boasting 12 years of experience as a broker, he has completed three industry exams, including the Series 66 and the Series 7.  

Call MDF Law for a Free Consultation Today

If you lost money investing in GWG L Bonds or other products recommended by Bo Nicholson, you should be aware of potential recovery options. At MDF Law, our attorneys have proven experience advocating for investors. Through the FINRA arbitration process, we have recovered more than $100 million in investment losses for our clients. Call 800-767-8040 for a free consultation today.