Dallas, Texas financial advisor Brian Tsai (CRD# 6687951) was recently sanctioned in connection with the sale of GWG L-Bonds. Financial Industry Regulatory Authority records show that he is registered as a broker with Landolt Securities and an investment advisor with TKC Wealth Management.
Mr. Tsai’s BrokerCheck report discloses the Texas State Securities Board’s disciplinary action against him. Filed in April 2026, it alleged that his firm, Landolt Securities, approved the sales of GWG L-Bonds to 26 clients in contravention of firm written supervisory procedures. As the disclosure states, the firm’s guidelines regarding alternative investments regarding alternative investments “not recommending the purchase of alternative investments to clients older than 70; not investing more than 15% of a client’s net worth in any one alternative investment product; and not investing more than 30% of a client’s net worth in alternative investments, without justification.” In spite of this, the firm allegedly sold GWG L-Bonds to two customers who invested 24% and 29% of their net worth in the products, one of whom was 74 years old. “These sales,” the Board alleged, “exceeded the thresholds set out by the WSPs.” As a result of these allegations, Mr. Tsai was reprimanded and ordered to refund certain clients.
According to the Financial Industry Regulatory Authority, Brian Tsai holds eight years of securities industry experience. Based in Dallas, Texas, he has been registered as a broker with Landolt Securities since 2018 and an investment advisor with TKC Wealth Management since 2017. He was previously registered with Richfield Orion International in Dallas, Texas from June to November 2017. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. He is licensed in Massachusetts, New York, and Texas. (Information current as of May 9, 2026.)
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