Eric Wegner Allegedly Omits Material Facts In Connection With TIC Investments

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Eric Wegner. According to his publicly available FINRA BrokerCheck report, Eric Wegner has been the subject of multiple customer disputes over the course of his career.

Eric Wegner is a Wisconsin based securities broker. He has worked in the securities industry for twenty years. During his career, he has been registered with six different securities firms.

His Registrations

• Allstate Financial Services (2000)


• FFP Securities (2000-2002)


• Sammons Securities Company (2002-2008)


• QA3 Financial Corp. (2009-2011)


• Sigma Financial Corporation (2011-2013)


• Cambridge Investment Research (2013-Present)

The Allegations

• In January 2011, a customer alleged that Eric Wegner purchased inappropriate and unsuitable products on their behalf. This case was settled for $302,500 in damages.


• In August 2013, a customer alleged that Eric Wegner made material misrepresentations, omitted material facts, breached his fiduciary duty, and managed their account negligently all in connection with 'tenancy in common' investments. This case was settled for $295,000 in damages. Eric Wegner received an identical complaint two months later in November 2013. This case was settled for $250,000 in damages.


• In July 2015, a customer alleged that Eric Wegner failed to disclose fees and expenses associated with two variable annuities.


• In July 2015, a customer alleged that Eric Wegner misrepresented and omitted material facts, breached his fiduciary duty, and managed their account negligently. This case was settled for $49,000 in damages.


• In July 2017, a customer alleged that Eric Wegner made material misrepresentations and omissions of fact and managed their account negligently regarding recommended 'tenancy in common' investments. This case was settled for $60,000 in damages.

What Does This Mean?

'Tenancy in common' investments, also known as TIC investments, is a form of real estate investing. Essentially, an individual placed in this type of investment co-owns a real estate property with one or more partners. This can be either commercial or residential real estate. The percentages can be divided up in any way the investors agree upon prior to investing. The major drawback of TIC investments is the illiquidity of real estate. Real estate is much more difficult to liquidate than publicly traded equities. This is because equities traded on public securities exchanges have a guaranteed redemption, which means the investor can liquidate their shares for the stated market value at a moments notice. However, real estate operates differently. It takes time to find new investors to purchase real estate properties--even longer if your simply only selling a percentage of the real estate's equity. Securities brokers need to communicate to investors the associated illiquidity of TIC investments so that investors are completely aware what they are getting into.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Eric Wegner, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.