One or more investors apparently complained about securities broker Dwight Kristopher Kay [CRD: 5376903, Torrance, California], based on disclosures on FINRA BrokerCheck. Evidently, Dwight Kay worked for FNEX Capital LLC starting January 21, 2022, and previously was registered with Growth Capital Services Inc. from July 23, 2020, to January 14, 2022, and with WealthForge Securities LLC from June 12, 2017, to July 28, 2020. Keep reading to discover more about the investor disputes and allegations involving Dwight Kay.
Particularly, on September 24, 2024, a WealthForge Securities LLC client filed FINRA Arbitration No. 24-01991 about Dwight Kay. The client alleged that Kay made omissions of material fact, failed to conduct reasonable due diligence, made misrepresentations of material fact, breached his fiduciary duty, and breached a contract. Because of this, the client allegedly sustained damages on private placements. Therefore, the client requested damages from WealthForge Securities or Kay. Evidently, this arbitration is pending a resolution.
Specifically, a client of Independent Financial Group LLC contested Dwight Kay’s sales practices, according to a complaint dated May 12, 2010. Allegedly, Kay made misrepresentations of material fact about two investments in 2008. It appears that Kay allegedly caused the client to sustain damages on real estate securities and direct investments. Therefore, the client sought damages from Independent Financial Group or Kay in the amount of $50,000 in this matter. However, the firm denied the complaint.
When a broker is accused of misrepresentation or omissions, it typically means they either gave false or misleading information—or failed to disclose important facts—about an investment. Due diligence failures occur when a broker or firm does not properly investigate an investment’s risks before recommending it to a client. These types of violations may cause clients to make financial decisions they otherwise would not have made, resulting in losses.
Did you experience losses because of Dwight Kay? If so, reach out to Soreide Law Group online or at (888) 760-6552. Talk with a securities attorney concerning a potential recovery of investment-related losses. Soreide Law Group is experienced with recovering losses for investors throughout the country. The firm represents clients through a contingency fee basis and advances all costs. Kay and brokerage firms Kay worked for deny any allegations of sales practice violations.
Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: CONCORDE INVESTMENTS SERVICES, LLC, and BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC (Respondents). The Claimants are in their late 70s, retired, and according to the lawsuit, were not looking to take any unnecessary risks with their retirement savings. The Claimants […]
THEODORE WILLIAM BYRER (THEODORE W BYRER, TED BYRER) was registered as a broker with MORGAN STANLEY of Indianapolis, Indiana, from 11/11/2013 - 04/20/2023. He was most recently registered with INTERNATIONAL ASSETS ADVISORY, INC of Westfield, Indiana, from 05/09/2023 - 09/17/2024. According to his BrokerCheck CRD report, dated 7/23/2026, THEODORE W BYRER was suspended for 14 […]
MARK LAWRENCE SULLIVAN (MARK SULLIVAN, MARK L SULLIVAN), formerly with UBS Wealth Management USA in New York City, was fined $10,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations that he traded in customers’ accounts without the proper approval. Sullivan was previously registered both as a broker and as an […]
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