Advisor Timothy Vanlohuizen (Vanlohuizen), currently employed by SagePoint Financial, Inc. (SagePoint Financial) has been subject to at least seven customer complaints during the course of his career. According to a BrokerCheck report the customer complaints concern alternative investments such as direct participation products (DPPs) like non-traded real estate investment trusts (REITs), oil & gas programs, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.
In February 2020 a customer complained that Vanlohuizen violated the securities laws by alleging that Vanlohuizen engaged in sales practice violations related to recommending unsuitable investments. The claim seeks $100,000 and is currently pending.
In May 2019 a customer complained that Vanlohuizen violated the securities laws by alleging that Vanlohuizen engaged in sales practice violations related to recommending negligence, unsuitable investments, misrepresentations, and breach of fiduciary duty related to oil and gas investments and precious metals. The claim seeks $350,000 and is currently pending.
DDPs include products such as non-traded REITs, oil and gas offerings, equipment leasing products, and other alternative investments. These alternative investments virtually never profit investors and are almost always unsuitable for investors because of their high fee and cost structure. Brokers selling these products are paid additional commission in order to hype these inferior quality investments providing a perverse incentives to create an artificial market for the investments. Continue Reading