Wade Papas: $200K ARC NYC Complaint Against Forte Advisor

Investor complaints against New York City financial advisor Wade Papas (CRD# 2933979) allege he recommended unsuitable investments. Financial Industry Regulatory Authority records show that he is a representative of National Securities Corporation, doing business as Forte Capital Group.

Mr. Papas’ BrokerCheck report discloses two investor complaints. The most recent, filed in April 2022, alleges that as a representative of National Securities Corporation, he recommended an unsuitable investment in an ARC NYC real estate investment trust (REIT). The pending complaint alleges damages of $200,000.

A second investor complaint, filed in February 2021, alleges that he recommended the customer invest in an unsuitable real estate product. The pending complaint alleges damages of $86,000.

According to the Financial Industry Regulatory Authority, Wade Papas holds 24 years of securities industry experience. Based in New York City, he has been a broker and investment advisor with National Securities since 2013, doing business as Forte Capital Group. His past registrations include John Thomas Financial (New York, New York; 2008-2013), Caldwell International Securities (Nassau; 2005-2008), J.P. Turner & Company (Atlanta, Georgia; 2002-2005 and 2000-2001), Donald & Co. Securities (Tinton Falls, New Jersey; 2001-2002 and 2000), First Union Securities (St. Louis, Missouri; 1999-2000), and D.L. Cromwell Investments (Boca Raton, Florida; 1998-1999). His credentials include the passage of three securities industry qualifying examinations: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 43 state licenses. (Information current as of July 12, 2022.)

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