Charles Wareheim: Vaylark Advisor Receives REIT Complaint

Hartford, Connecticut financial advisor Charles Wareheim (CRD# 2193537) recently received an investor complaint alleging that he recommended unsuitable investments. Financial Industry Regulatory Authority records show that he is currently registered as a broker and an investment advisor with Independent Financial Group, doing business as Vaylark Financial Services.

Mr. Wareheim’s BrokerCheck report discloses one recent investor complaint. Filed in March 2024, alleges that as a representative of Independent Financial Group, he recommended unsuitable investments in non-traded real estate investment trusts. The pending complaint alleges unspecified damages.

In a statement included with the complaint’s disclosure, Mr. Wareheim defends himself against the allegations, which he describes as meritless. “All risks and relevant information regarding the investments was provided to claimants prior to them making the decision to purchase them,” he adds, “including conversations where the clients indicated they were interested in a high rate of dividends, did not have an immediate need for the principal and that they had experience with this type of investment as they had previously and did then currently own some of that same type of investment.”

Vaylark Financial Services’ website includes a profile of Mr. Wareheim that describes him as the firm’s CEO. “Charles is considered one of New England’s foremost authorities on college funding and is a trusted advisor for school counselors seeking his expertise,” it states. “As Vaylark’s CEO he leads the firm with more than 25 years’ experience in college funding strategies, retirement planning, estate planning, and investment portfolio design. He trains our people, and sets our standards.”

According to the Financial Industry Regulatory Authority, Charles Wareheim holds 32 years of securities industry experience. Based in Hartford, Connecticut, he has been registered as a broker and an investment advisor with Independent Financial Group since 2014, doing business as Vaylark Financial Services. His past registrations include LPL Financial (Hartford, Connecticut; 2005-2014), Ameriprise Financial Services (Hartford, Connecticut; 1992-2005), and IDS Life Insurance Company (Minneapolis, Minnesota; 1992-2005). His credentials include the passage of four securities industry qualifying exams: the General Securities Principal Examination, or Series 24; 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 is licensed in Alabama, California, Connecticut, the District of Columbia, Florida, Georgia, Idaho, Maine, Massachusetts, Nevada, New Hampshire, New York, North Carolina, Ohio, Rhode Island, South Carolina, Tennessee, and Virginia. (Information current as of April 14, 2024.)

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