Financial Advisor David Andrew Kangas Discloses Four FINRA Customer Disputes

• June 29, 2026
• Wealthforge Securities

Broker’s Background

 

David Andrew Kangas (CRD #: 6591398) is registered with Wealthforge Securities, LLC. He is located in Richmond, VA. David’s past employers include Sandlapper Securities, LLC and Cabot Lodge Securities, LLC.

 

Current and Past Allegations of Conduct Leading to Investment Loss

 

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in April 2026, David Andrew Kangas became the subject of a customer dispute alleging, “From investment activity in 2022, claimant alleges the following: negligence, lack of suitability, fraud, lack of due diligence, misrepresentation, failure to supervise, omitting material facts, breach of contract, and breach of fiduciary duty”. Damage amount requested is $1,000,000.00.

 

In addition, David Andrew Kangas has been the subject of three past FINRA disclosures, including the following:

• March 2026 – From investment activity in April 2022, claimants allege the following: negligence, lack of suitability, fraud, lack of due diligence, misrepresentation, omitting material facts, breach of contract, and breach of fiduciary duty. Damage amount requested is $150,000.00
• March 2026 – From investment activity in September 2023, claimants allege the following: negligence, lack of suitability, fraud, lack of due diligence, misrepresentation, omitting material facts, breach of contract, breach of fiduciary duty. Damage amount requested is $300,000.00.
• October 2025 – From investment activity in September 2021, claimant alleges fraud, lack of suitability, misrepresentations/omissions, negligence, breach of fiduciary duty, and breach of contract.

For a copy of David Andrew Kangas’s FINRA Broker Check, click here

 

We Help Investors Recover Investment Losses

 

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

 

Reasonable basis suitability requires that a recommended investment or investment strategy be suitable or appropriate for at least some investors. Reasonable basis suitability requires an advisor to conduct adequate due diligence so that he or she can determine the risks and rewards of the investment or investment strategy.

 

Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation. Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

 

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies, and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (855) 289-7868 or by email at mwolper@wolperlawfirm.com