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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.)

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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