Eric Felsenfeld, Ameriprise Broker, Involved in GWG Disputes

Eric Felsenfeld (CRD# 4496689[1]), a broker registered with Ameriprise Financial, misrepresented investments in GWG, according to investor disputes. MDF Law is investigating the Rockville, Maryland-based financial professional for similar conduct. If you suffered losses in your accounts, call for a free consultation with one of our investor advocates.

More information about the allegations involving Mr. Felsenfeld follows below. This post is based on a January 20, 2025 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record. 

Pending GWG Disputes Allege Misrepresentation, Unsuitability

Between 2024 and 2025, three parties of investors filed disputes involving Mr. Felsenfeld. All three investments detail allegations that he misrepresented investments in GWG. One claim alleges that the investment was unsuitable, while another specifies that he represented the company as “no risk.” The disputes, which are still pending, seek more than $140,000 in alleged damages. 

Past Disputes Concerned REITs, BDCs

The above-described pending disputes are not the only ones in Mr. Felsenfeld’s history. Between 2021 and 2023, two other parties of investors lodged disputes involving him. These claims included allegations that he breached contract, engaged in negligence, misrepresented information, breached his fiduciary duty, and made unsuitable recommendations. According to his BrokerCheck profile, they stemmed from investments in REITs, business development companies (BDCs), and other products. His former member firm settled the claims for more than $50,000 in total.

What Is GWG Holdings?

Investors GWG Holdings and GWG L Bonds[2] may have recovery options. As they are likely aware, GWG Holdings filed for Chapter 11 bankruptcy on April 20, 2022. GWG, of course, is the company that issued highly risky investments called GWG L Bonds. By the date of its bankruptcy filing, the SEC had been scrutinizing the company for potential illegal conduct since October 2020. GWG did not disclose this investigation to investors until 2021. In addition, the company’s principals directed investor funds towards their own ventures as early as 2018. They also allegedly concealed this from investors.

Investors who suffered losses on their GWG investments may be able to file a FINRA arbitration claim against the firm that marketed those investments. If they secure a recovery from the firm, they will still be eligible to receive payments issued through GWG Holdings’ bankruptcy process, if any.

FINRA: Broker Based in Potomac, Maryland

Mr. Felsenfeld launched his career as a broker when he joined Morgan Stanley DW in 2002. His time in the industry has included tenures at TD Ameritrade, H. Beck, and Kingswood Capital Partners. He joined his current member firm, Ameriprise Financial Services in 2023. Still registered with the firm today, he is based at its office in Potomac, Maryland. With 22 years of experience as a broker, he has completed four industry exams, including the Series 31 and the Series 7.

Eric Felsenfeld Complaints? Call MDF Law

MDF Law’s seasoned team of investment fraud attorneys[3] has recovered millions in losses for their clients. If you have complaints about products or strategies recommended by Eric Felsenfeld, reach out to discuss your options. Our team provides free consultations across the US and takes cases on contingency: you only pay a fee if you win, no hourly fees. Your time to file an arbitration claim may be limited, so call 800-767-8040 for a free consultation today.