Multiple pending customer complaints have been filed against David Andrew Kangas of WealthForge Securities, LLC in Richmond, Virginia. The complaints allege fraud, unsuitable investment recommendations, misrepresentation, omission of material facts, negligence, breach of fiduciary duty, and breach of contract in connection with Delaware Statutory Trust and private placement investments. Investors who worked with Kangas on similar products should understand their rights and potential paths to recovery.
If you or a family member experienced significant investment losses involving alternative investment recommendations from a registered broker or financial advisor, Meyer Wilson Werning can help. Our team of experienced broker misconduct and investment fraud attorneys focuses on representing investors who have been misled by financial professionals. Contact us for a free and confidential consultation.
What Does David Kangas’s FINRA BrokerCheck Record Show?

According to FINRA BrokerCheck, David Andrew Kangas (CRD# 6591398), based in Richmond, Virginia, has four pending customer complaints, filed between October 2025 and April 2026, during his registration with WealthForge Securities. All four cases remain unresolved. BrokerCheck also shows that prior to joining WealthForge, Kangas was registered with Cabot Lodge Securities LLC and Sandlapper Securities, LLC. Sandlapper Securities was subsequently expelled by FINRA on June 30, 2020.
- April 2026: Claimant alleges fraud, lack of suitability, misrepresentation, negligence, failure to supervise, and breach of fiduciary duty related to 2022 DST private placement investments across nine properties. Alleged damages: $1,000,000.
- March 2026: Claimants allege fraud, lack of suitability, misrepresentation, and breach of fiduciary duty related to April 2022 DST investments across four properties. Alleged damages: $150,000.
- March 2026: Claimants allege fraud, lack of suitability, misrepresentation, and breach of fiduciary duty related to a September 2023 fixed-rate Notes private placement. Alleged damages: $300,000.
- Fourth pending complaint: Claimant alleges fraud, lack of suitability, misrepresentation, negligence, and breach of fiduciary duty related to September 2021 private placement investment activity. No damage amount stated.
All complaints on Kangas’ record are currently pending.
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Could WealthForge Securities Also Be Liable?
WealthForge Securities, LLC is the Richmond, Virginia broker-dealer responsible for supervising Kangas during the period covered by all four pending complaints. Under FINRA Rule 3110, brokerage firms must maintain supervisory systems capable of identifying and preventing unsuitable recommendations by their registered representatives.
When four complaints alleging the same categories of misconduct are filed against the same broker at the same firm, questions about the adequacy of that supervision become directly relevant to any investor claim. If WealthForge’s oversight failed, the firm may share liability alongside Kangas for the resulting losses.



What Makes Private Placement and DST Recommendations a Source of Legal Claims?
Private placements and Delaware Statutory Trust investments are among the most complex products sold to retail investors. They are illiquid by design, meaning investors typically cannot access their money until the sponsor chooses to sell or wind down the underlying assets, often years later. High upfront fees, limited financial transparency, and dependence on sponsor management make these products inappropriate for investors with near-term income needs or limited risk capacity.
Investors who worked with Kangas or WealthForge Securities should ask whether any of the following apply to their situation:
- The broker did not explain that the investment was illiquid or could not be sold on demand
- Distribution payments were reduced or suspended after purchase, contrary to projections
- The investment represented a disproportionately large share of the investor’s total assets
- Material risks, fees, or conflicts of interest were not disclosed before the purchase
- The product did not match the investor’s stated income needs, timeline, or risk tolerance
When a broker fails to meet these obligations, both the individual representative and the supervising firm may be held accountable through arbitration.



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How Meyer Wilson Werning Can Help
Investors who suffered losses in DST 1031 exchange replacement properties, private placements, or other complex alternative real estate products recommended by David Kangas or WealthForge Securities may have a viable path to financial recovery through arbitration. The experienced attorneys at Meyer Wilson Werning have more than 25 years of experience representing investors harmed by broker misconduct, unsuitable recommendations, and misrepresentation in private placement transactions.
Meyer Wilson Werning represents investors nationwide who have been harmed by unsuitable private placement recommendations and broker misconduct. With over $350 million recovered for clients, our team is dedicated to holding negligent firms and their representatives accountable. Contact us today for a free and confidential consultation to discuss your path to recovery.
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Frequently Asked Questions

Who is David Kangas of WealthForge Securities and what is his CRD number?
David Andrew Kangas is a Richmond, Virginia-based financial advisor registered with WealthForge Securities, LLC, which does business as Cornerstone Real Estate Investment Services. His FINRA CRD number is 6591398. Investors can review his full registration history and disclosures through FINRA BrokerCheck.
How can investors recover losses from DST and private placement investments recommended by David Kangas?
Investors who experienced losses in DST or private placement products recommended by David Kangas or WealthForge Securities should consult an investment fraud attorney. The primary recovery path is a FINRA arbitration claim against WealthForge Securities. An attorney can evaluate whether the recommendations violated FINRA suitability rules or Reg BI standards.
What are DST 1031 exchange investments and why are they considered high-risk?
DST (Delaware Statutory Trust) investments allow investors to defer capital gains taxes by reinvesting property sale proceeds into qualifying replacement properties. They are illiquid by design, meaning investors cannot sell on demand, and carry risks including distribution cuts, property value declines, and extended holding periods. When brokers recommend DSTs without accounting for a client’s liquidity needs or risk tolerance, the recommendation may be unsuitable under FINRA rules.
Recovering Losses Caused by Investment Misconduct.