Trewitt has a long history of allegations of unsuitability and breach of fiduciary duty, clients allege millions in damages
If you’ve lost money investing with Mark Trewitt or VFG Securities, you may have a claim. Contact Sonn Law today by filling out our form to submit a confidential message, or call us anytime at 866–827–3202 to schedule a free consultation.
FINRA has suspended former VFG Securities, Inc. investment adviser Mark Andrew Trewitt (CRD#:1364490) for a history of negligence, breach of fiduciary duty, and unsuitability, with alleged damages totaling millions.
Trewitt has 24 years of experience with 10 firms, most recently with Niagara International Capital (2017) of New York, and VFG Securities and Madison Securities Inc. of Plano, TX., (2010–2017).
Trewitt has been the subject of 17 customer disputes and has a lengthy history of negligence, breach of fiduciary duty and unsuitability, with alleged client damages in the multi-millions.
While registered with VFG and Madison Securities, Trewitt was involved in a group claim which settled in April 2018 for damages in the millions. VFG and Trewitt both maintain broader claims and allegations are without merit. All were settled April 2018 without admission of wrongdoing.
Trewitt’s FINRA record contains the following customer disputes:
— 12/2014: Settled for $25K. Client alleged misappropriation and refusal to return investment per client request.
— 2/2017: Client alleged unsuitability. No action taken.
— 3/2018: Client alleged negligence, breach of fiduciary duty from 2010–2015. Settled $35K.
— 4/2018: Also while registered with VFG, negligence and breach of fiduciary duty. Settled for $78K.
— 4/2018: Client alleged misrepresentation, unsuitability, and failure by VFG to supervise. Settled $140K.
— 4/2018: Client alleged negligence, breach of fiduciary duty — settled $78K.
— 4/2018: Group claim, settled $168K.
— 4/2018: Settled 102K. Client alleged overconcentration of alternative investments, unsuitability.
— 4/2018: Client alleged unsuitability and misrepresentation from 2012–2015. Settled for $63K.
— 4/2018: Client alleged poor and unsuitable recommendations, deceptive marketing practices from 2013–2016. Settled $101K.
— 4/2018: Settled for $48K. VFG maintained claims were meritless.
— 6/2018: Client alleged losses, overconcentration in alternative investments. Went to arbitration.
— 9/2018: Went to arbitration — Trewitt was registered with Madison Avenue Securities at the time. Client alleged damages of two million dollars.
VFG Securities is also known as VFG Advisors, both of Plano, TX.