Category Archives: WFG Investments

Kyle J. Gardner-Former MML Investor Services Broker-Discloses Customer Dispute Over REITs-Plano, TX

May 2017- Plano, Texas

The FINRA records  of Kyle J. Gardner,  a  stockbroker who is currently employed by  SCF Securities   disclose a pending  customer dispute for losses on investments in real estate investment trusts (REITs).

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 the currently pending customer dispute (internal case #201626218) a customer Gardner’s prior employer , MML Investor Services LLC, alleges damages in an unstated amount related to the purchase of two REITs in 2010. The customer alleges that he was not advised that the investment is illiquid and is not redeemable and that in 2015 Gardner advised him to close an individual account holding mutual funds to offset current losses and reinvested the funds in the same position.

Gardner has been employed by SCF Securities since 7/2014. His prior employment includes WFG Investments in Plano and MML Investors Services in Dallas.

If you have questions about an account  handled by Kyle J. Gardner call for a no charge consultation.

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

Stuart G. Dickinson-Former WFG Investments Broker-Barred by Securities Regulagtor-Highland Park, TX

November 2016-Highland Park, Texas

According to publicly available records Stuart G. Dickinson, (CRD# 1047824) ,  a  former stockbroker who is was last employed in the securities industry by WFG Investments disclose that FINRA has permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public. FINRA alleged that Dickinson failed to conduct reasonable due diligence on private placement investments involving automated teller machines ( ATM Alliance, LP ) which were fraudulent.

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.

Dickinson  was employed by WFG Investments from 10/2005-9/2013, when he was discharged by WFG Investments.

If you have questions about an account in an account handled by Stuart Graham Dickinson , 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

Jay D. Jordan -Former WFG Investments Broker-Discloses $4M Customer Dispute-Oklahoma City, OK

April 2016- Oklahoma City, OK

UPDATE MAY 2017FINRA Records disclose that Jay D. Jordan currently has 9 pending and 4 prior customer disputes. The recently filed  pending disputes include:

  • FINRA Case 17-0358- customer of WFG Investments alleges damages of $4 million for unsuitable investments
  • FINRA Case 17-0535-customer of WFG Investments alleges damages of $900,000 for unsuitable investments.
  • July 2015 claim by customer seeking damages of $164,645 for unauthorized trading from 6/2011-present.

ORIGINAL POST JUNE 2016

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 FINRA records of Jay D. Jordan report that he was discharged from WFG Investments 3/31/2016, with the following allegations made by WFG Investments:
“WFG Investments has reasonably concluded the representative failed to follow certain policies of WFG, including failure to report a customer complaint, attempting to settle a customer complaint, unauthorized use of a personal email address to communicate with a customer and mischaracterizing aspects of an outside business activity”.

In a currently pending customer dispute, the customer alleges unauthorized trading in the account and claims damages of $164,644.

There are 4 prior customer disputes against Jordan reported that have been settled, including a claim that Jordan unsuitable recommendations and engaged in unauthorized trading. That case (NYSE 2002-010629) was settled for payment of $500,000 to the customer.

Jordan was registered with WFG Investments from 9/2005-4/2016.

If you have losses in an account handled by Jay D. Jordan, and believe that your account was mishandled, call to find out 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

Losses On Servergy, Inc ? – Recovery Options for Investors

April 12, 2016-Fort Worth, Texas

The Securities and Exchange Commission (SEC) filed fraud charges against McKinney, TX based Servergy, Inc. , William E. Mapp III, Caleb J. White and Texas attorney general Warren K. Paxton, Jr. Link to complaint. 

The SEC alleges that from November 2009-September 2013 $26 million was raised through private offerings by Servergy Inc. from investors who were duped into believing that Servergy was generating sales on new groundbreaking server technology when, in reality,  the server technology was behind that of competitors and there were not any sales.

In a February 2013 Private Placement memorandum, Servergy’s co-founder and then CEO William Mapp, III, led investors to believe their new server, the Cleantech-1000, was revolutionary and in high demand, Servergy hired WFG Investments of Dallas to raise $20 million in that offering.

According to the SEC complaint Servergy made numerous misrepresentations and omissions in the private placement memorandum about the new server to investors. In addition, the SEC alleges that investors were misled as to the purported sales figures leading investors to believe the company was generating income.

Brokerage firms have a duty to investigate the companies they are recommending. Thorough due diligence would likely have revealed the false information being disseminated by Servergy and its promoters.

If you invested in Servergy, Inc.  you may be able to recover damages from WFG Investments or the brokerage firm where you purchased Servergy, Inc. 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

David Williams-WFG Investments- Sued For Servergy Losses-Dallas, TX

April 12, 2016-Dallas, Texas

The FINRA records of David W. Williams, president of WFG Investments, report that he is currently named in an arbitration claim filed by a customer.

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.

FINRA Case 16-00346– customer alleges various failures including failure to conduct a reasonable investigation into Servergy, unsuitable recommendations and breach of fiduciary duty. Alleged damages are $2,780,000.

Williams has been employed by WFG Investments since 10/2000.

SERVERGY, INC.-SEC FRAUD COMPLAINT NAMES TEXAS      ATTY GENERAL KEN PAXTON, JR.

On April 11, 2016, the SEC announced fraud charges against Servergy, Inc. , William E. Mapp III, Caleb J. White and Texas attorney general Warren K. Paxton, Jr. Link to complaint. 

The SEC alleges that $26 million was raised through private offerings by Servergy from investors who were duped into believing that Servergy was generating sales on new groundbreaking server technology. In reality the server technology was behind competitors and there were not any sales.

If you have losses in an account handled by David W. Williams, or losses on investment in Servergy, 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

Carl Busch-WFG Investments Broker-Sanctioned by Securities Regulator

December 30, 2015-Oklahoma City, OK

Carl W. Busch , a broker with WFG Investments, entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that  he failed to adequately supervise the sales practices of one of the brokers he was responsible for overseeing.

As a result the broker recommended and engaged in unsuitable trading in the IRA account of a retired customer and traded without written authority.

AWC No.  2013038710502

Busch was suspended in all principal capacities from association with a FINRA member firm for 45 days and fined $5,000.

FINRA records disclose that Busch  has been registered with WFG Investments since 6/ 2007.

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

Grady R. Jones- Former Emerson Equity/WFG Investments Broker Investigation- Dallas, Texas

Lewisville, Texas

Rex Securities Law is investigating Grady R. Jones, a broker who is currently unregistered but who was previously registered as follows:

  • Emerson Equity                         12/2013-9/2015
  • WFG Investments                       4/2010-12/2013
  • Lone Star Securities                11/2004-4/2010

FINRA reports that Grady was named in an Arbitration before the American Arbitration Association Case # 71 148 000198 10 where a customer alleged losses of more than $450,000 in oil and gas drilling programs. That case was settled for $250,000.

We are interested in hearing from former clients of Grady R. Jones who may have suffered losses.

Emerson Equity was formed in 2003 and headquartered in San Mateo, CA. They have offices in Delaware, Ohio, San Diego, CA, and Irving, Texas. Lone Star Securities was expelled from the securities industry in December 2011.

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