IMPORTANT NOTICE TO CUSTOMERS OF RICHARD WESSELT WHO PURCHASED LIFE INSURANCE POLICIES OR ANNUITIES
If You Suffered Losses With Financial Advisor Richard Wesselt Please Contact the Law Firm of KlaymanToskes
WEST CHESTER, PA, UNITED STATES, October 2, 2025 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes continues representing customers of barred financial advisor Richard Wesselt in FINRA arbitration claims against Fortune Financial Services, related to unsuitable recommendations involving whole life insurance policies. KlaymanToskes urges all customers of Richard Wesselt who suffered investment losses to contact the firm immediately at 888-997-9956.KlaymanToskes reports the law firm is currently representing multiple investors in FINRA arbitration claims against Fortune Financial Services, and other brokerage firms. The latest complaint (FINRA Case No. 25-01970) alleges that financial advisor Richard Wesselt (CRD# 2195569) recommended an unsuitable investment strategy involving the purchase of and then borrowing against whole life insurance policies. Wesselt encouraged the investor to use the Whole Life Insurance policies as a funding source to buy real estate investment properties. Between the unaffordable premiums and decline in the real estate market, the strategy was not sustainable causing the investor damages between $100,000 to $500,000.
On November 9, 2020, FINRA issued an Acceptance, Waiver, and Consent (AWC) barring Wesselt from associating with any FINRA member in all capacities for the very same conduct. The AWC pertained to Wesselt promoting investment strategies involving the purchase of variable annuities and whole life insurance policies.
Customers of Richard Wesselt and/or any other financial advisor who suffered investment losses at Fortune Financial Services, or any other brokerage firm, are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $600 million in Securities Litigation and FINRA Arbitration matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
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Contact
Steven D. Toskes, Esq.
KlaymanToskes, PLLC
+1 888-997-9956
investigations@klaymantoskes.com
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