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Heidi Wivolin Terminated by NEXT Financial Group

Heidi Wivolin Terminated by NEXT Financial Group 150 150 Rex Securities Law

By Robert H. Rex, Esq. 

FEBRUARY 2018 UPDATEHeidi Wivolin pleads guilty to mail and tax fraud. Sentencing set for May 2, 2018. See this for details. 
According to FINRA records NEXT Financial Group discharged broker Heidi Wivolin on February 6, 2014. The termination comment indicates Wivolin was “discharged” for “failure to cooperate with internal investigation“. 
 
We have been investigating Heidi Wivolin, NEXT FInancial Group, 1st Discount Brokerage and Shawn O’Sullivan since early February on behalf of a group of Finnish citizens who for many years entrusted Wivolin and the brokerage firms she worked for with millions of dollars with the belief their funds were invested in a bond portfolio. 
 
Wivolin and O’Sullivan, who operated a company called FirsTrust Investments from the NEXT Financial office in Manalapan, Florida,  have admitted to our client that there was no bond portfolio and that the funds were lost in various unauthorized investments and used to pay the living expenses of Wivolin and O’Sullivan as well as the operating expenses of the NEXT Financial office. 
 
On February 19, 2014, suit was filed in Palm Beach County Circuit Court against NEXT Financial and Wivolin. See this  and this for more information. 
 
We are also assisting another victim of this apparent fraud from Lantana, Florida, who alleges she was encouraged by Wivolin  to make a six figure loan to O’Sullivan with the promise of tax free interest in an insured investment. Monthly payments were made for a period of time but have now ceased. 
 
If you have questions about an account which was handled by Wivolin, contact us to speak with an experienced securities attorney to discuss your legal options. 
 
Nationwide representation.
 
 
561 391 1900
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