Jody Vander Weide Allegedly Failed to Report Outside Business Activities
The White Law Group is currently investigating potential FINRA arbitration lawsuits involving Jody Vander Weide ( CRD#: 4380699), a former financial advisor with Sigma Financial Corp. in Grand Rapids, MI.
Vander Weide was reportedly barred this week from working as a broker following FINRA’s investigation into an alleged undisclosed outside business activity. According to the findings, Vander Weide initially cooperated with the investigation but later ceased doing so.
FINRA’s Investigation
FINRA launched the investigation after Sigma Financial reportedly terminated Vander Weide in March 2024. The firm stated it had reason to believe he violated company policies by engaging in an undisclosed outside business activity as an unlicensed investment adviser representative.
Following his departure from Sigma, Vander Weide was briefly registered with Osaic Wealth. However, he was reportedly terminated on April 10, 2025, amid allegations that he failed to fully disclose the circumstances surrounding his prior termination when applying for affiliation with Osaic, according to his broker report.
Outside Business Activities
FINRA-registered brokers are required to disclose anyoutside business activities (OBAs)to their employing firm and receive written approval before engaging in them. OBAs include any paid or unpaid work conducted outside the scope of the broker’s role with their member firm—such as serving as an officer in another company, offering investment advice, or selling products unrelated to the firm’s offerings. These disclosures help ensure that potential conflicts of interest are identified and managed appropriately. Failure to disclose OBAs is a serious violation of FINRA rules and can lead to disciplinary action, including fines, suspension, or permanent bar from the securities industry.
What Investors Can Do
If you invested with Jody Vander Weide or Sigma Financial Corp. and suffered financial losses, you may have legal options. FINRA provides a dispute resolution forum that allows investors to pursue claims against financial advisors and brokerage firms for misconduct.
Brokerage Firms’ Duty to Supervise
Brokerage firms have a legal obligation to adequately supervise their advisors. Failure to detect or prevent advisor misconduct—such as fraud or unsuitable recommendations—can make the firm liable for losses through FINRA arbitration.
FINRA Arbitration vs. Class Action
Many investors wonder if a class action lawsuit is better than pursuing an individual FINRA arbitration claim. Generally:
- If your losses exceed $100,000, individual arbitration may be more appropriate.
- Class actions are typically better suited for smaller, uniform claims.
Contact The White Law Group
If you lost money investing with Jody Vander Weide and Sigma Financial Corp. or believe you may have been a victim of misconduct, contact The White Law Group at (888) 637-5510 for a free consultation. Our firm handles securities fraud cases in all 50 states, including Florida.
FAQ – Jody Vander Weide
- What is FINRA arbitration and how does it work?
FINRA arbitration is a legal process that allows investors to resolve disputes with financial advisors or brokerage firms without going to court. A panel of neutral arbitrators hears evidence and issues a binding decision. - What is Regulation Best Interest (Reg BI)?
Regulation Best Interest (Reg BI) is a rule adopted by the Securities and Exchange Commission (SEC) that requires brokers to act in the best interest of their retail customers when making investment recommendations. Effective as of June 30, 2020, Reg BI obligates financial advisors to disclose conflicts of interest, exercise reasonable diligence when recommending investments, and avoid placing their own financial interests ahead of their clients’. Violations of Reg BI can serve as grounds for FINRA arbitration claims.
- How much does it cost to file a FINRA claim?
Most securities attorneys, including The White Law Group, work on a contingency fee basis, meaning there are no upfront legal fees. You only pay if you recover compensation.
