UPDATE! Jason Vanclef and VFG Securities, Inc.
WARNING! Jason Vanclef and VFG Securities, Inc.
Have you lost money with financial advisor Jason Vanclef of Culver City, California? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Jason B. Vanclef. FINRA brought a regulatory action against Vanclef and VFG Securities in February 2016, alleging that they made misrepresentations in connection with recommendations to invest in direct private placements and non-traded REITs (real estate investment trusts).
To settle the allegations with FINRA, Jason Vanclef was suspended from the securities industry for 10 days and fined $10,000, while VFG Securities was fined $50,000.
Jason Vanclef was the author of a book entitled “The Wealth Code: How the Rich Stay Rich in Good Times and Bad” and used the book to market his business. Vanclef also used this book to promote the sale of private placements and non-traded REITs. FINRA alleged that between November 2010 and June 2012, 95% of VFG Securities’ revenue comes from the sale of alternative investments likes non-traded REITs and private placements. FINRA alleged that VFG Securities failed to approve or review The Wealth Code before its use with customers, and that Vanclef made false and misleading representations regarding alternative investments in the book.
Jason Vanclef is a financial advisor and registered representative of VFG Securities, Inc. from August 2009 to the present. He works at a branch office in Culver City, California. He previously was affiliated with Madison Avenue Securities from February 2007 to August 2009. Vanclef is the subject of at least seven customer complaints, according to his record on BrokerCheck.
Brokerage firms like VFG Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in California. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James, ProEquities, Securities America, National Securities Corp., and many others.
Click to view: Vanclef, Jason FINRA AWC
Click to view: Vanclef BrokerCheck 2.11.16
HAVE YOU LOST MONEY WITH JASON VANCLEF OR VFG SECURITIES?
Aaron Israels: (720) 599-3505
David Neuman: (206) 795-5798
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.