Investment adviser Dwight Dykstra, currently registered with Aegis Wealth Management, and Alternative Investment Advisors, both in Maitland, Florida, allegedly participated in private securities transactions by soliciting investments in promissory notes issued by a limited liability company by raising capital to develop a senior living real estate project, according to his FINRA Brokercheck Report, under review by attorney Alan Rosca.
Investor rights attorney Alan Rosca of the Rosca Scarlato LLC law firm is investigating activity related to Dwight Dykstra’s alleged solicitation of clients to invest in promissory notes. Investors who believe they may have lost money in activity related to Dwight Dykstra’s alleged involvement in soliciting investments in promissory notes are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options through the contact form on this webpage.
Dwight Dykstra Suspended, Fined, and Ordered Disgorgement by FINRA
In October 2018 while investment adviser Dwight Dykstra was associated with Vision Brokerage Services (VBS), he allegedly participated in private securities transactions without providing prior written notice to his firm which is a violation of FINRA Rules.
Dykstra allegedly solicited clients to invest in promissory notes issued by a limited liability (The Issuer) company raising capital to develop a senior living estate project. As reported on the FINRA Letter of Acceptance, Waiver and Consent(AWC), Dykstra allegedly called prospective investors, some of whom were VBS customers or former customers of VBS, to inform them of the investment opportunity.
When an investor confirmed their interest, Dykstra reportedly provided marketing materials, communicated between the Issuer and interested investors, and facilitated the sale of approximately $2 million of promissory notes to 21 investors. Dykstra allegedly received $67,500 in compensation from the Issuer for his participation in the transactions.
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Dwight Lee Dykstra’s participation in the promissory note securities transactions was outside the scope of his employment at his FINRA member firm. Dykstra did not provide any prior notice to Vision Brokerage Services of the promissory notes transactions or his role in the transactions.
Without admitting or denying the findings, Dykstra consented to the sanction and to the entry findings that he allegedly participated in private securities transactions without providing prior written notice to his member firm. As a result, Dwight Dykstra was suspended for one year, fined $10,000 and ordered a disgorgement of $67,000, according to the AWC.
Investors who believe they lost money as a result of Dwight Dykstra’s alleged solicitation of clients to invest in promissory notes may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
What are Promissory Notes?
Promissory notes are financial instruments with a written promise by one party (the issuer of the note) to pay another party (the note’s payee) a defined sum of money in the future or on demand. While promissory notes may be appropriate investments for some individuals, they are sometimes used as vehicles to defraud investors, especially the elderly, out of their money.
Generally, fraudsters may persuade investments or insurance agents to sell worthless, fraudulent promissory notes he or she issued. Investors may purchase such promissory notes, with a promise of a high, fixed rate return of up to 15% to 20%, with a very low level of risk. Selling agents may sometimes promise investors a false claim that they’re “guaranteed” or insured or low-risk.
If you believe you may have lost money in promissory notes feel free to contact us for a no-obligation consultation regarding your legal situation and potential recovery options, by phone at 888-998- 0530, via email at arosca@rscounsel.law, or through the contact form on this page.
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Dwight Lee Dykstra Has Been Registered With FINRA for 35 Years
According to his FINRA Brokercheck page, investment adviser Dwight Dykstra became registered with FINRA in October 1982, working for The Prudential Insurance Company of American from October 1982 until December 1993.
He also worked at Pruco Securities Corporation from February 1982 until June 2002. He then switched to Walnut Street Securities in June 2002 and he stayed there until December 2004. From December 2004 until August 2011, Dykstra worked for FSC Securities Corporation. Two years later, he started working for Vision Brokerage Services in Maitland, Florida, from May 2013 until July 2019.
Even though Dykstra is no longer registered as a broker, according to his Investment Adviser Public Disclosure Report he is still a registered investment advisers with two Maitland, Florida, companies: Aegis Wealth Management, LLC (since March 2016) and Alternative Investment Advisors, LLC (since April 2012).
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
Securities Lawyers Investigating Potential Claims on Behalf Of Dwight Dykstra Investors
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investments in questionable promissory notes or broker misconduct and are currently investigating Dwight Lee Dykstra’s alleged solicitation of clients to invest in promissory notes.
The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Dwight Dykstra’s alleged solicitation of clients to invest promissory notes may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
