Last Updated: December 2023 (Bayonne, New Jersey)
Vincent Virga Investigation Summary
Here’s what you need to know about Bayonne, NJ & Naples, FL, , registered investment advisor Vincent Virga:
- Name: Mr. Vincent Anthony Virga
- Current Employer: AE Wealth Management (RIA), Not currently registered with FINRA, dba PFS Wealth Management Group
- Previous Firms: Madison Avenue Securities
- Function: Stock Broker/ Financial Advisor/Registered Investment Advisor
- Aliases: Vincenzo A. Virga, Jr.
- Primary Location: Bayonne, New Jersey & Naples, Florida
- CRD 5070668
- Can Vincent Virga be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: Yes
- Sanctioned by Florida Securities Regulator: Yes
- Highest Settlement : $145,000
- Pending Customer Dispute Involving $1.1 Million Investment
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Vincent Virga As Your Stockbroker?
In 10/2021 Florida securities regulators fined Vincent Virga $1,500 , suspended him for one month and ordered him to pay restitution in the amount of $19,687 to injured victims to resolve allegations that he overcharged customers on the sale of mutual funds.
In 2020 FINRA assessed a $5,000 on Virga for abusing the breakpoint savings on a mutual fund sales.
In 11/2023 a customer of Madison Avenue Securities filed a FINRA arbitration alleging that Vincent Virga made an unsuitable recommendaiton to invest in NorthStar Healthcare REIT. No amount of damages is specified in this currently pending matter. Original investment was $1.1 million.
Five customers of Madison Avenue Securities settled cases brought alleging various wrongdoing by Vincent Virga. Wrongdoing includes the unsuitable recommendation to purchase REITs and alternative investments. More than $225,000 was paid, cumulatively, to resolve those cases.
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
Allegations of Broker Misconduct Against Vincent Virga
Customers of Vincent Virga have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Recommendation to purchase illiquid non publicly traded alternative investments, including REITs.
- Did not pass breakpoint savings on to customers when selling mutual funds
- Unsuitable Recommendation to purchase GPB Automotive
- Unsuitable recommendation to invest in alternative investments, including NorthStar Healthcare REIT
See this for more information on REITs and Other Alternative Investments
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Vincent Virga, contact us for a complimentary consultation with an experience securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
