JUNE 2017 UPDATE–Mark 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 2016–VFG Securities and Jason Vanclef sanctioned by FINRA.
ORIGINAL POST 5/2016—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. 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.
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