Category Archives: VFG Securities

Mark Trewitt-Former VFG Securities Broker-Discloses 11 Pending Customer Suits-Plano, TX

November 2017-Plano, Texas

According to publicly available records Mark A. Trewitt , (CRD# 1364490) ,  a   stockbroker who formerly worked for VFG Securities discloses 11 pending customer disputes and a two prior customer disputes.

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.

The pending cases include:

FINRA Case 17-2010-a customer of VFG Securities seeks damages of $150,000 for negligence and breach of fiduciary duty in connection with the recommendation to purchase private non publicly traded real estate investment trusts (REITs).

In March 2017 a customer of VFG Securities filed FINRA Case 17-0669 seeking damages of $300,000 alleging an over concentration of alternative investments, including limited partnerships, direct investments in equipment leasing, promissory notes and real estate investments.

In February 2017 a customer of Madison Avenue Securities and VFG Securities filed FINRA arbitration 17-0217 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.

In a prior matter that was settled in 12/2014 a customer of VFG Securities alleged a misappropriation of his investment in KBR Barons Cove, a private placement. That matter was settled with Trewitt buying back the investment from the customer for the $25,000 purchase price.

Trewitt worked for  VFG Securities from 11/2010-11/2017 and  Niagara International Securities from  4/2017-6/2017. 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, contact us to discuss your options.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures.  These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

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

May 2017-Plano, Texas

According to publicly available records Mark A. Trewitt , (CRD# 1364490) ,  a   stockbroker who works for VFG Securities discloses 4 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 March 2017 a customer of VFG Securities filed FINRA Case 17-0669 seeking damages of $300,000 alleging an over concentration of alternative investments, including limited partnerships, direct investments in equipment leasing, promissory notes and real estate investments.

In February 2017 a customer of Madison Avenue Securities and VFG Securities filed FINRA arbitration 17-0217 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.

In a prior matter that was settled in 12/2014 a customer of VFG Securities alleged a misappropriation of his investment in KBR Barons Cove, a private placement. That matter was settled with Trewitt buying back the investment from the customer for the $25,000 purchase price.

Trewitt has been employed by VFG Securities since 11/2010 and has been employed by Niagara International Securities since 4/2017. 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.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures.  These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

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-Jason Vanclef-Sanctioned by Securities Regulator

November 2016-Plano, Texas/Culver City, CA

VFG Securities, Inc. and its owner, Jason Vanclef, reached a settlement with the Financial Industry Regulatory Authority (FINRA) to resolve allegations by the securities industry regulator that he and his firm had overly concentrated customer accounts in illiquid investments and used a book Vanclef had written, “The Wealth Code” to promote sales.

Vanclef was fined $10,000 and suspended for 10 days. VFG Securities was censured and fined $50,000.

FINRA’s FIndings and Conclusions include:

  • Vanclef used The Wealth Code as sales literature to promote investments in non-direct Participation Programs and non-traded Real Estate Investment Trusts (REITs).
  • Vanclef repeatedly claimed in The Wealth Code that non-traded DPPs and non-traded REITs offer both high return and capital preservation. This claim was inaccurate and misleading, and contradicted information provided in the prospectuses for the instruments that Vanclef and VFG sold. Non-traded DPPs and nontraded REITs are speculative investments that contain a high degree of risk, including the risk that an investor may lose a substantial portion or all of his or her initial investment.
  • As part of Respondents’ pitch to sell non-traded DPPs and non-traded REITs, they also distributed recommendation spreadsheets to four customers that contained false and misleading liquidity timelines for non-traded DPPs and non-traded REITs. The recommendation spreadsheets also misleadingly characterized distributions from non-traded DPPs and non-traded REITs as “income” and improperly projected performance of the recommended non-traded DPPs and non-traded REITs.
  • VFG’s supervisory systems, including its written supervisory procedures (“WSPs”), were inadequate in two respects. First, Respondents provided consolidated investment reports to customers during in-person meetings to discuss their investments, yet the Firm failed to supervise the content of those reports to ensure that customers received the most up-to-date valuations for the non-traded REITs and non-traded DPPs that they had purchased. Second, the Firm failed to reasonably supervise illiquid alternative investments, including nontraded DPPs and non-traded REITs, to ensure that customers following Respondents’ recommendations did not become overly concentrated in illiquid securities.

See this  and see this for more information on the investigation of VFG Securities and Vanclef by securities regulators.

Alternative investments include non publicly traded real estate investment trusts (REITS) , equipment leasing, oil and gas investments, hedge funds, real estate, commodities and derivatives contracts and, managed futures. It may also include art, wine, antiques, coins or stamps. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

VFG Securities, is headquartered in Culver City, CA, and has about 12 brokers located in six branch offices, including Plano, Texas.

 

If you have losses in an account in an account at VFG Securities  contact us to discuss how you may be able to recover damages for those losses.

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

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

Plano, Texas

JUNE 2017 UPDATEMark Trewitt discloses two additional customer disputes:

  • FINRA Case 17-0669- a customer of VFG Securities alleges damages of $300,000 for an overconcentration of unsuitable alternative investments, including limited partnerships, equipment leasing, promissory notes and real estate securities.
  • A claim by a VFG Securities customer in 6/2016 alleging damages of $130,000 for unsuitable investments and recommendations from 12/2012-6/2015.

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

ORIGINAL POST 5/2016According 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.  Trewitt discloses business affiliations with Insurance Funding Solutions LLC, Integrated Marketing Solutions, The Plus Group, Exceptional Risk Advisors, First Life Funding Succession Capital Alliance, SDC Energy (Sandview Development Corp) and Kosmos Mgmt. 

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

Investigation of VFG Securities in Plano, Texas- Sale of REITs & Alternative Investments

February 17, 2016- Plano, Texas

Rex Securities Law is investigating VFG Securities, a broker dealer headquartered in Culver City California, with offices in Plano, Texas, in connection with the sale of real estate investment trusts (REITs), direct participation programs (DPPs) and other alternative investments.

According to a recently filed regulatory complaint, FINRA alleges that VFG Securities failed to supervise its brokers properly, allowing them to over concentrate the portfolios of customers with risky and illiquid investments, including REITs and DPPs.

A book, The Wealth Code, authored by VFG’s president Jason B Vanclef is alleged to have been improperly used as a sales tool by VFG SecuritiesSee this for more details. 

According to VFG’s website they have several registered representatives in Plano, Texas, including the following:

John M. Brady-registered with VFG Securities since 11/2010.

Scot A. Clevenger-registered with VFG Securities from 2/2012-5/2013 and 5/2014-present.

Mark Trewitt-registered with VFG Securities since 11/2010. According to his FINRA record, in 9/2014 a customer complained that his $25,000 investment in KBR Barons Cove had been misappropriated . That matter was settled for $25,000.

If you have information you believe would be helpful to our investigation, please contact us. If you have losses in an account at VFG Securities, contact us to discuss how you may be able to recover damages.

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 Named in Regulatory Complaint for Sales of REITs/ Alternative Investments

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

February 9, 2016-Plano Texas/ Culver City California

The Financial Industry Regulatory Authority (FINRA) filed a complaint No. 2013038283001 against VFG Securities (offices in Plano, Texas and California) and its President and CEO, Jason Bryce Vanclef, of Vanclef Financial Group  alleging that the firm failed to supervise its brokers resulting in portfolios that were overly concentrated in non-traded real estate investment trusts and other illiquid investments.

FINRA’s complaint alleges that Vanclef authored a book “The Wealth Code: How the RIch Stay Rich in Good Times and Bad” which he distributed as sales literature to promote investments in direct participation programs and nontraded REITs. Between 11/2010 – 6/2012 nearly all,  95% according to the regulators, of VFG’s revenue was obtained from the sale of non-traded direct participation programs (DPPs) and non-traded REITs and other alternative investments.

The FINRA complaint heavily criticizes the representations in The Wealth Code, including these allegations:

  • “Vanclef repeatedly claimed in The Wealth Code that non-traded DPPs and non-traded REITs offer both high return and capital preservation. This claim was inaccurate and misleading, and contradicted information provided in the prospectuses for the instruments that Vanclefand VFG sold. Non-traded DPPs and non-traded REITs are speculative investments that contain a high degree of risk, including the risk that an investor may lose a substantial portion or all of his or her initial investment.”
  • “Vanclef also claimed in The Wealth Code that by investing in ‘*real” or “tangible” assets and other instruments that he recommended, investors could “reasonably achieve 8-12% results,” on their investments and “get consistent returns” that provided “piece [sic] of mind.” These claims were unwarranted because they were promises of future results and failed to provide the reader a sound basis to evaluate the claim.”
  • “As part of Respondents’ pitch to sell non-traded DPPs and non-traded REITs, they also distributed recommendation spreadsheets to four customers that contained false and misleading liquidity timelines for non-traded DPPs and non-traded REITs. The recommendation spreadsheets also misleadingly characterized distributions from non-traded DPPs and non-traded REITs as ??income” and improperly projected performance of the recommended non-traded DPPs and non-traded REITs.”

FINRA’s complaint makes specific reference to the following DPP/ REITs and alternative investments:

  • CNL Corporate Capital Trust 
  • Cole III REIT
  • CPA (Corporate Property Associates) 17-Global Incorporated REIT

The FINRA complaint seeks sanctions and other relief.

VFG Securities has been a FINRA member since 1985. Vanclef acquired indirect ownership of VFG through the Vanclef Financial Group in 9/2009. Principal offices are in Culver City, CA.

VFG Securities has about 13 registered representatives in six branch offices, including the following:

Plano, Texas

John M. Brady-registered with VFG Securities since 11/2010.

Scot A. Clevenger-registered with VFG Securities from 2/2012-5/2013 and 5/2014-present.

Mark Trewitt-registered with VFG Securities since 11/2010. According to his FINRA record, in 9/2014 a customer complained that his $25,000 investment in KBR Barons Cove had been misappropriated . That matter was settled for $25,000. UPDATE FEBRUARY 2017 UPDATE-MARK TREWITT discloses three pending customer disputes. 

Atascadero, California

Kim R. Kunz-registered with VFG Securities since 1/2013. FINRA records report six pending judgment/liens: State of CA Franchise tax, $69,130 & $8,827 ; Internal Revenue Service, $857, $187,673, $72,631, $115,042

Carlsbad, California

Linda J. Wimsatt– of Coast Capital Wealth Management  has been registered with VFG Securities since 9/2014. FINRA reports one customer complaint  related to unsuitable/non liquid REIT investment prior to joining VFG. That matter was settled for $12,000.

Culver City, California

Demetrio J. Munoz-registered with VFG Securities since 6/2012.

Thousand Oaks, California

Christopher Michael Dukes-registered with VFG Securities since 9/2010. One customer complaint that was denied in 2008 while employed at a prior firm is reported by FINRA.

If you have losses in an account at VFG Securities, call to discuss your options for recovery of damages.

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