Category Archives: Madison Avenue Securities

Noel Vincent-Madison Ave. Securities Broker-Discloses Customer Dispute-Houston, TX

March 2017-Houston, Texas

According to publicly available records Noel Ray Vincent, (CRD# 1370987) ,  a  stockbroker who previously worked for Investors Capital Corp and who is currently employed by Madison Avenue Securities  disclose a prior final regulatory matter, a pending customer dispute , 8 prior final customer disputes and an outstanding judgement/lien.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In currently pending FINRA arbitration 17-0029 a customer of Investors Capital Corp. alleges damages of $500,000 for misrepresentations, breach of fiduciary duty and other claims related to the purchase of alternative investments during the period 2005-2008.

In one of the prior customer disputes, FINRA arbitration 15-0037,  a customer of Investors Capital Corp. alleged damages of $413,000  for unsuitable investments in oil & gas investments and real estate securities made between 2006 and 2009. That matter was settled for $125,000.

Vincent discloses an outstanding lien in favor of the Internal Revenue Service in the amount of $170,000, filed in Harris County, Houston.

Vincent has been employed by Madison Avenue Securities since 11/2009. He was employed by Investors Capital Corp. from 9/2001-11/2009.

Investors Capital Corp., a part of the Cetera Group, wound down its operations during 2016, transferring many of its brokers and customers to Summit Brokerage Services. In November 2016, Investors Capital Corp. withdrew its FINRA registration and closed operations.

INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016

Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link. 

If you have questions about an account in an account handled by Noel Ray Vincent, contact us to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Mark A. Trewitt-VFG Securities Broker-Discloses Pending Customer Disputes-Plano, TX

March 2017-Plano, Texas

According to publicly available records Mark A. Trewitt , (CRD# 1364490) ,  a   stockbroker who works for VFG Securities discloses 3 pending customer disputes and a prior customer dispute that has been settled.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In February 2017 a customer of Madison Avenue Securities and VFG Securities filed FINRA arbitration 17-0217 is claiming damages of $400,000 and alleges that between 2007-2011 Trewitt sold the customer real estate investment trusts (REITs) and private placements that were misrepresented.

In June 2016 a customer of VFG Securities claimed damages of $130,000 for unsuitable recommendations and misrepresentations of investment program safety for investments made by Trewitt in limited partnerships and private placements made between December 2012-June 2015. The matter is currently pending.

In March 2016, in another matter that is currently pending, a customer of VFG Securities claimed damages of $213,000 for poor and unsuitable recommendations and advice and deceptive marketing practices by Trewitt related to direct investments, limited partnerships and private placements.

 

Trewitt has been employed by VFG Securities since 11/2010. Prior to that he was employed by Madison Avenue Securities in Plano, TX, from 9/2006- 11/2010.

Mark A. Trewitt discloses numerous other business activities with other entities, including:

  • Insurance Funding Solutions
  • Integrated Financial Solutions
  • First Financial Resources
  • Stop the Wealth Leakage, LLC
  • Exceptional Risk Advisors
  • First Life Funding & Succession Capital Alliance
  • SDC Energy (Sandview Development Corp.)
  • Kosmos Management, LLC 

If you have questions about an account handled by Mark A. Trewitt, call to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Jason B. Vanclef-VFG Securities-Named In Regulatory Investigation Over REIT Sales

Culver CIty, CA

According to FINRA records, Jason B. Vanclef a broker who is  registered  with VFG Securities  , discloses that he is named in a FINRA complaint alleging that in connection with the sale of direct investments and REITs, he provided customers with misleading personalized recommendation spreadsheets that contained false, exaggerated, unwarranted or misleading statements, and included improper projections of investment performance.

FINRA also alleges that Vanclef, who is the president of VFG Securities, used misleading communications with the public by providing a copy of a published book, The Wealth Code,  to the public which had not been filed with FINRA for review.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Vanclef also discloses six prior customer disputes that have been finalized, including:

  • FINRA Case 13-2979- a customer of Madison Avenue Securities alleged damages of $2.5 million in connection with the purchase of a tenant in common (TIC) investment and two energy related direct investments. That case was settled for $237,500.

Vanclef  has been registered with VFG Securities since 8/2009. Prior to that he was registered with Madison Avenue Securities and Sigma Financial. 

If you have questions about  a brokerage account handled by Jason B. Vanclef  or losses in your account at VFG Securities , call to discuss your legal options with an experienced securities attorney.

VFG Securities is also being investigated by FINRA for sales practice violations related to the sale of REITs and non traded alternative investments. See this for more information. 

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

VFG Securities Broker Mark Trewitt Discloses Customer Dispute Over REIT Investment

UPDATE November 2016-VFG Securities and Jason Vanclef sanctioned by FINRA. 

Plano, Texas

According to FINRA records, Mark A. Trewitt  a broker who is  registered  with VFG Securities in Plano, Texas , discloses that he was recently named in a customer dispute over investments in real estate investment trusts (REITs) and private placement investments.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Disclosure on the FINRA record indicates that a customer of Madison Avenue Securities and VFG Securities alleges damages of $300,000 related to the purchase of unsuitable REITs and private placements between 2007 and 2011. The customer alleges that he was sold the investments through inducement and misrepresentations.

Trewitt also discloses that in 2014, a customer of VFG Securities alleged damages of $25,000 in connection with an investment in another private placement, KBR Barons Cove. That matter was settled for $25,000.

Trewitt has been registered with VFG Securities since 11/2010. Prior to that he was registered with Madison Avenue Securities and Kalos Capital. 

If you have questions about  a brokerage account handled by Mark A. Trewitt  or losses in your account at VFG Securities , call to discuss your legal options with an experienced securities attorney.

VFG Securities is currently being investigated by FINRA for sales practice violations related to the sale of REITs and non traded alternative investments. See this for more information. 

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Madison Avenue Securities Fined Over Private Placement Sales

San Diego, California

The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA’s chief role is to protect investors by maintaining the fairness of the U.S. capital markets.

All stockbrokers and broker dealers (brokerage firms) are required to be licensed by and subject to the rules and regulations of FINRA. Each month FINRA publishes disciplinary actions against brokers and broker dealers. Discipline can range from monetary fines and suspensions, or in extreme cases, revocation of licensing and a bar from the securities industry.

See the FINRA website for current and historical disciplinary actions.

AUGUST 2013
Madison Avenue Securities, Inc. (CRD #23224, San Diego, California) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $12,500.

Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that its registered representative participated in private securities transactions through the offer and sale of private placement offerings. The findings stated that at the time the representative became registered with the firm, he provided written notification to the firm that he was the owner and manager of an entity, which was engaged in a private offering of securities that he participated in selling, and that he intended to form another entity and commence a related private offering. The representative further informed the firm that he acted as the portfolio manager with respect to funds raised in the offerings and had an opportunity to profit from the portfolio transactions at the conclusion of the investment period.

In connection with the private securities transactions, he signed the private placement memorandum and the subscription documents as manager on behalf of each issuer. The offerings raised approximately $10,704,805 from several retail investors, and $3,486,087 from an institutional investor.

The findings also stated that the firm acknowledged the
representative’s association with the issuers of the private placement offerings as an outside business activity, but failed to record the transactions on its books and records and failed to supervise his conduct with respect to these private securities transactions. (FINRA Case #2011028857601)

If you have questions about investment losses or the way your brokerage account has been handled, please contact us to discuss your legal rights.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900