Jason Salmon: $999K Complaint Against Ex-WealthForge Advisor

A recent investor complaint against Torrance, California financial advisor Jason Salmon (CRD# 6081963) alleges that he misrepresented and recommended an unsuitable investment. Financial Industry Regulatory Authority records show that he is registered as a broker with FNEX Capital, having previously been registered with WealthForge Securities.

Mr. Salmon’s BrokerCheck report discloses two investor complaints. The most recent, filed in July 2024, alleges that as a representative of WealthForge Securities, he breached his fiduciary duty, failed to conduct reasonable due diligence, recommended an unsuitable private placement, made misrepresentations and omissions, breached contract, and acted negligently. The pending complaint alleges damages of $999,999.

An earlier investor complaint, filed in 2022, alleged due diligence failures and misrepresentations of an unsuitable investment while registered with WealthForge Securities. In 2023 the complaint reached a settlement of $1.5 million.

A statement included with the complaint’s disclosure describes the allegations as inaccurate, adding that the complaint was filed against the firm. “The investor stated WealthForge failed to conduct necessary due diligence,” it states. “The investor is a sophisticated real estate investor who the Representative discussed the risk factors of investing in real estate with as well as provided to the client a list of the investment risk factors for the investor’s review and approval prior to investing…  The representative was not involved in the negotiated settlement, was not asked to participate in the settlement, and did not participate in the settlement.”

As his BrokerCheck report notes, Mr. Salmon is also a senior vice president at Kay Properties, a which describes itself as “a national Delaware Statutory Trust (DST) investment firm.” The company’s website includes a profile of Mr. Salmon that describes his background and experience. “Throughout his career, Jason has been involved in a wide range of industry roles, all contributing to his deep understanding of real estate investments,” it explains. “He specializes in tax-advantaged exit strategies and estate planning solutions—working with property owners on their 1031 exchange transactions. Jason has expertise in identifying real estate investments across multiple sectors and takes pride in giving clients access to opportunities via the company’s diverse platform.”

According to the Financial Industry Regulatory Authority, Jason Salmon holds 11 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, EDI Financial, and Allied Beacon Partners. He holds 51 state licenses. (Information current as of August 25, 2024.)

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