What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: November 22, 2016

According to a recent Order Accepting Offer of Settlement with the Financial Industry Regulatory Authority’s (FINRA) Department of Enforcement, Jason Bryce Vanclef, VFG Securities’ Chief Executive Officer and CEO, was accused of distributing marketing material that was misleading to clients. Mr. Vanclef’s book, which he wrote and published himself,“The Wealth Code: How the Rich Stay Rich in Good Times and Bad,” was used as sales literature to promote investments in non-traded Direct Participation Programs (DPPs) and non-traded real estate investment trusts (REITs) and to lure potential customers to his firm, VFG Securities. Approximately 95% of VFG’s revenue was obtained from the sale of non-traded DPPs and non-traded REITs and other alternative investments between November 2010 and June 2012.

In the book, Vanclef claimed that non-traded DPPs and non-traded REITs offer both high return and capital preservation. This claim is inaccurate and misleading and was in contradiction to information provided in the prospectuses for the instruments that contain a high degree of risk, in which non-traded DPPs and non-traded REITs are included. Mr. Vanclef also stated in the book, that, by investing in “real” or “tangible” assets and other instruments he recommended, investors could “reasonably achieve 8%-12% results on their investments and get consistent returns that provided piece of mind.” These were unwarranted claims because they promised future results and failed to provide the reader a sound basis to evaluate this claim. These are all against securities rules and regulations.

Jason Vanclef was registered with Sigma Financial Corp in Santa Monica, California from February 2006 until February 2007 and Madison Avenue Securities in Santa Monica from February 2007 until October 2009. He is currently registered with VFG Securities in Culver City, California and has been since August 2009. He has six customer disputes against him. Stoltmann Law Offices encourages any client or former client of Mr. Vanclef’s to please call us at 312-332-4200 today to speak to one of our attorneys. The call is free with no obligation and you will be able to discuss your options of bringing legal recourse against VFG Securities for your investment losses. The firm may be responsible for them. We take cases on a contingency fee basis only.


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