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Eric Weschke: 6-Figure Investor Complaints Against Kalos Rep
Setauket, New York-based broker and investment adviser Eric Weschke (CRD# 2486324) has received several pending investor complaints in recent years, including some alleging six-figure losses. According to records provided by the Financial Industry Regulatory Authority (FINRA) Weschke is currently a registered representative of Kalos Capital.
Eric Weschke’s FINRA-maintained BrokerCheck report lists a total of 15 settled customer complaints against him, two pending customer complaints, and one complaint that concluded in an award to the claimant.
A complaint filed in February 2021 alleges that as a representative of Kalos Capital, Eric Weschke misrepresented and omitted material facts, made unsuitable investments, and engaged in unjust enrichment. The pending complaint alleges damages of $150,000.01.
Another complaint filed in 2021 alleges that as a Kalos Capital representative, Eric Weschke made unsuitable investment recommendations, breached his fiduciary duty, breached contract, and acted grossly negligent in connection to direct investments and alternative investments. The pending complaint alleges damages of $138,000.
A complaint filed in 2020 alleged that while at Kalos Capital, Eric Weschke breached his fiduciary duty, made unsuitable investment recommendations, over-concentrated the account in alternative investments, and failed in his supervisory duties. The complaint reached a settlement in 2021 of $152,923.
Another complaint filed in 2020 alleged that while at Kalos Capital, he failed to conduct sufficient due diligence, recommended unsuitable investments, and failed to supervise. The complaint reached a settlement of $33,951.24.
A complaint filed in 2019 alleged that while at Kalos Capital, he breached his fiduciary duty and breached contract in connection to investments in “GPB-related products.” The complaint reached a settlement of $70,000.
According to records provided by the Financial Industry Regulatory Authority (FINRA), Eric Weschke holds 22 years of experience in the securities industry. He has been registered with Kalos Capital in Setauket, New York as a broker and investment adviser since 2011. His previous registrations include Harrison Douglas in Aurora, Colorado; Financial Planning Associates in Pleasantville, New York; Alternative Wealth Strategies in Setauket, New York; Equity Services in Montpelier, Vermont; Self Trading Securities in Austin, Texas; and Tasin & Company in Hauppage, New York. He has passed six securities industry examinations: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Limited Representative-Equity Trader Exam, or Series 55; and the General Securities Principal Examination, or Series 24. He currently holds seven state securities licenses. (Information current as of June 10, 2021.)