Jeff Sorensen: $190K Complaint Against Sorensen Wealth Advisor

Multiple investor complaints against Westlake Village, California financial advisor Jeff Sorensen (CRD# 1623946) allege that he recommended unsuitable investments. Records maintained by the Financial Industry Regulatory Authority show that he is a broker and an investment advisor with Triad Advisors and Triad Hybrid Solutions, respectively, doing business as Sorensen Wealth Management.

Mr. Sorensen’s BrokerCheck report discloses three investor complaints. The most recent, filed in February 2023, alleges that as a representative of Triad Advisors, he misrepresented and recommended unsuitable investments. The pending complaint alleges damages of $190,000.

A second investor complaint, filed in 2021, similarly alleged that he recommended unsuitable alternative investments while at Triad Advisors. The pending complaint alleges damages of $114,000.

A third investor complaint, filed in 2021, also alleged the sale of unsuitable alternative investments. In January 2023 the complaint reached a settlement of $141,500.

In comments included with the above-described complaints’ disclosures, Mr. Sorensen pushed back against the allegations, writing in each case: “The claims being made are untrue and not substantiated. The clients were very well aware of the investments and the potential risks involved.” He stated further that the customers “acknowledged their willingness to participate and to assume any associated risks through all of the signed documents and discussions prior to investing.” He also asserted that the investments’ allocations were “in line” with both suitability guidelines and the customers’ needs and objectives. In the case of the settled complaint, he wrote that the settlement “was settled by the broker-dealer, who was the only party named on the complaint, so that Triad could avoid the ongoing costs and uncertainty of arbitration.” In the cases of the pending complaints, he wrote: “The investments were a portion of the clients investable assets and used partly for a non-correlated allocation strategy. Reviews were done regularly with the client where these investments were discussed.”

According to the Financial Industry Regulatory Authority, Jeff Sorenson holds 35 years of securities industry experience. Based in Westlake Village, California, he has been a broker with Triad Advisors since 2010 and an investment advisor with Triad Hybrid Solutions since 2018, doing business as Integrity Wealth Management. His past registrations include Summit Financial Consultants (Westlake Village, California; 2016-2018), Sorensen Wealth Management (Westlake Village, California; 2010-2016), TransAmerica Financial Advisors (Westlake Village, California; 1994-2010), North American Management (Sioux Falls, South Dakota; 1989-1994), and First American National Securities (Duluth, Georgia; 1987-1989). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He currently holds 36 state licenses. (Information current as of March 9, 2023.)

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