Eric Felsenfeld: Ameriprise Advisor Faces GWG Complaint

Rockville, Maryland financial advisor Eric Felsenfeld (CRD# 4496689) recently received an investor complaint alleging that he misrepresented an investment in GWG Holdings. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Ameriprise Financial Services, having previously been registered with Kingswood Capital Partners.

Mr. Felsenfeld’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in August 2024, alleges that as a representative of Kingswood Capital Partners, he misrepresented an investment in GWG. The pending complaint alleges damages of $40,000.

A third investor complaint, filed in 2023, alleged that as a Kingswood Capital Partners representative, he breached contract, acted negligently, misrepresented a private placement investment, violated Regulation Best Interest, and breached his fiduciary duty. In 2023 the complaint reached a settlement of $22,000.

A third investor complaint, filed in 2020, alleged that as an H. Beck representative, he misrepresented the risks associated with unsuitable investments in business development corporations and real estate investment trusts. In 2022 the complaint reached a settlement of $30,000.

Ameriprise Financial Services’ website includes a description of Liberty Wealth Management, Mr. Felsenfeld’s team at the firm. “Our approach involves engaging each generation in meaningful conversations about their distinct financial priorities,” it explains. “Whether it’s planning for education, retirement or personal investments, we ensure every voice is heard and every goal is addressed. We also emphasize the importance of financial literacy across generations, empowering each family member to make informed decisions for their future. For a tailored, multi-generational financial planning experience, we are ready to assist.”

According to the Financial Industry Regulatory Authority, Eric Felsenfeld holds 21 years of securities industry experience. Based in Rockville, Maryland, he has been registered as a broker and an investment advisor with Ameriprise Financial Services since 2023. His past registrations include Kingswood Capital Partners, Niagara International Capital Limited, H. Beck, TD Ameritrade, and Morgan Stanley. His credentials include the passage of four securities industry experience: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He holds 16 state licenses. (Information current as of September 1, 2024.)

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