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Read MoreDwight Kay: $570K Elder Abuse Complaint Against Ex-WealthForge Advisor
A recent investor complaint against Torrance, California financial advisor Dwight Kay (CRD# 5376903) alleges that he committed elder abuse. Financial Industry Regulatory Authority records show that he is registered as a broker with FNEX Capital, having previously been registered with Growth Capital Services and WealthForge Securities.
Mr. Kay’s BrokerCheck report discloses two recent investor complaints. The most recent, filed in May 2025, alleges that as a representative of WealthForge Securities, he misrepresented and omitted material facts, recommended an unsuitable private placement, acted negligently, breached contract, breached contract, committed elder abuse, and breached his fiduciary duty. The pending complaint alleges damages of $570,000.
An earlier investor complaint, filed in September 2025, similarly alleged that as a representative of WealthForge Securities, he failed to make material disclosures, misrepresented and omitted material facts, failed to conduct a suitability analysis, breached his fiduciary duty, failed to conduct reasonable due diligence, and breached contract. The pending complaint alleges unspecified damages.
In statements included with each pending complaint’s disclosure, Mr. Kay denied the allegations and described them as factually false. “This dispute is between the plaintiff and WealthForge Securities as broker dealer and Mr. Kay was not an owner of the broker dealer or an officer of it,” he wrote in each statement. “A similar allegation against Mr. Kay was recently dismissed with prejudice and this allegation likely will be as well as it is very similar and completely false.”
According to the Financial Industry Regulatory Authority, Dwight Kay holds 17 years of securities industry experience. Based in Torrance, California, he has been registered as a broker with FNEX Capital since 2022. His past registrations include Growth Capital Services, WealthForge Securities, Colorado Financial Service Corporation, Concorde Investment Services, Independent Financial Group, and Private Asset Group. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Direct Participation Programs Representative Examination, or Series 22; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 51 state licenses. (Information current as of June 19, 2025.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.
