The California Department of Financial Protection and Innovation (DFPI) has received information that an individual, identifying as Professor Jake Civiello, is falsely posing as a licensed investment adviser, market analyst, and investment adviser representative using a WhatsApp investment Group called “VIP Guidance Group.” Please be advised that this WhatsApp group is not associated with any licensed investment adviser or broker-dealer in California.
The imposter is potentially posing as Jacob Civiello, a licensed broker-dealer agent (CRD #5048332) based in Maine. Jacob Civiello is registered with D.A. Davidson & Co., Inc. (CRD #199), a California registered broker-dealer firm with its home office in Montana. Jacob Civiello is not associated with the VIP Guidance Group on WhatsApp.
The DFPI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services. To verify whether an investment or financial service provider is licensed in California, or to submit a complaint, visit dfpi.ca.gov or call 1-866-275-2677.