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Jason ValaVanis: REIT Complaint Against JW Cole Advisor

A recent investor complaint against Melbourne, Florida financial advisor Jason ValaVanis (CRD# 2453018) alleges that he recommended unsuitable REIT products. Financial Industry Regulatory Authority records show that he is a broker with JW Cole Financial, doing business as ValaVanis Financial. 

Mr. Valavanis’s BrokerCheck report discloses one investor complaint. Filed in August 2022, it alleges that as a representative of JW Cole Financial, he recommended unsuitable investments in illiquid non-traded real estate investment trusts (REITs). The pending complaint alleges damages of $70,000.

FINRA has warned investors about the risks of non-traded REITs, stating in a 2016 investor alert that these products are “generally illiquid, often for periods of eight years or more,” potentially making them unsuitable for investors with liquidity needs. FINRA warned additionally that non-traded REITs may have limited early redemption opportunities and substantial fees, and that they are accordingly “rarely, if ever, suitable for short-term investors.” Investors interested in learning more about the risks associated with non-traded REIT products can find additional information in FINRA’s web resources.

According to the Financial Industry Regulatory Authority, Jason ValaVanis holds 28 years of securities industry experience. Based in Melbourne, Florida, he has been a broker with JW Cole Financial since 2010, doing business as ValaVanis Financial. His past registrations include LPL Financial Corporation (Melbourne, Florida; 2000-2010), MetLife Securities (Springfield, Massachusetts; 1994-1999), and Metropolitan Life Insurance Company (New York, New York; 1994-1999). His credentials include the passage of seven securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the General Securities Principal Examination, or Series 24; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in California, Florida, Georgia, Illinois, Indiana, Nebraska, New York, North Carolina, South Carolina, Virginia, and Washington. (Information current as of September 28, 2022.)

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.

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