Whelan Financial

Whelan Financial - The king of all scams

Reviews: 4


Total views: 670

Published: 07 July 2019

Posted by: Vetti Mannie

Whelan Financial, as the name suggests, works in the field of financial services and throws in a bit of advisory as well. This company has been flagged and called out by several customers as being fraudulent and scamming customers in multifarious ways. Many of these allegations have been proved to be absolutely true as well. In fact, Whelan Financial’s shady dealings with customers have drawn the attention of several industry regulators and players as well although nothing concrete has been done as of now in terms of taking strict action. Actually this is where such fraudulent financial companies get away with literally anything. Sometimes they violate customer trust for a quick buck and yet manage to stay within the realm of the complicatedly worded legal framework. Sometimes, on the other hand, they directly rip off people for personal gain and yet no action is taken since they know how and when to go under the radar. 

Whelan Financial has taken a third route like many other fraudulent businesses, i.e. that of staying and keeping the business going and luring new and unsuspecting clients by eliminating all voices of dissent. Of course, this requires quite a bit of money and time and the company may be investing in the same instead of the well-being of its own customers. As a result, you will see a whole sea or even ocean of positive reviews drowning out any negative comments and reviews that may have been posted. This is where people continue to get misled for fraudulent companies like these have permanent people on their payroll to masquerade as incredibly satisfied and happy customers and to swamp the negative reviews which then seem few and far in between. 

This manages to create the impression that the company is doing well and is trusted by a large number of people, something that is just what Whelan Financial desires for helping it pull a bigger number of customers to its rolls. Additionally, the company has never really bothered about the genuine complaint and concerns of its customers, many of whom have tried contacting it over the years for redressal and solving of problems. These customers continue to be denied their rightful solutions and are instead taking legal recourse like many others are doing. What this has resulted in is only a pile of lawsuits and nothing more that can be deemed as constructive by all means. 


Knowing more about the company 




On its official website, the company claims that it was founded in the year 1988 by Vincent J. Whelan and states that it seeks to offer financial planning services along with investment management solutions for individual customers, trusts, families and also qualified plans in the Central Valley and through the United States of America. The company also talks about its skilled and professional team of advisors who guide people throughout markets which are challenging. The company also talks about how Vincent started the company based on a core premise that the client should get top-notch service that he himself would normally expect from any financial firm. As a result, the company claims to be just a fee based entity without selling any products on the commission model. 

The company aims at helping clients secure their future for the long haul. Clients are given the topmost priority as per the website and the company aims at ensuring unmatched service levels above all else. The financial plans are supposedly customized to fit the goals of every client. Wealth Management is one area of expertise that the company talks about on its website, stating that people are given guidance on investing, retirement planning and also maximization of social security benefits along with lowering taxes with professional help. Companies are also helped by Whelan Financial as it claims online with regard to taking care of employees with retirement planning and 401 (k) management, profit sharing plans and also pension plans. There are several A La Carte Services offered as well including social security planning with an aim towards getting maximum benefits and help with all the complications therewith along with WF Portfolios where clients can reportedly save their money, time and stress levels courtesy the investment platform which is fully automated as claimed by the company. 

Portfolios are tailored to meet specific goals and investment plans are chalked out accordingly. Trades and investments are expertly managed by the company on the behalf of clients while it also helps them to become more tax efficient. The company plans taxation while working with the client’s own accountant for lowering taxes or bypassing unnecessary taxes and helping avoid any unforeseen and avoidable consequences as a result. The company also claims to be working directly with clients’ estate planning attorneys and CPAs for ensuring the best quality and advice at all times. The company also states on its website that no two financial circumstances are the same and hence it claims to know its clients inside out with regard to their finances and tailors strategies accordingly. 

However, the unfortunate story is that too many people have taken this so-called guidance from the company and are now languishing in troubled waters financially. Their life prospects and plans have gone for a toss due to the highly unethical practices of Whelan Financial which has simply played around with their desire to create a better financial future with its wrong advice, investment hacks and unfair business principles. The founder and the company should certainly be brought to book from a legal perspective and the authorities should certainly look into the matter with alacrity in order to ensure redressal for the innumerable people who have been impacted by the company’s lack of ethical dealings. This is one situation which has been highlighted time and again by many people who have been at the receiving end. Many such complaint are highlighted below as well. 


Whelan Financial is more fraudulent than you originally thought!

If you were still thinking that the company is a little on the softer side when it comes to financial dealings and troubling customers, think again. One complainant has posted a true incident that took place here- https://dirtyscam.com/reviews/whelan-financial/

Here, the person has clearly stated that he/she (gender kept anonymous along with name for obvious reasons) had invested hard earned money for approximately one year via Whelan Financial or WF. Additionally, the person had major concerns and issues about the experience and advises anybody else considering this company to be really careful and ideally stay away from them. The experience was not at all good for the person concerned and he/she has shared more details in order to serve as a clarion call for the other investors out there. 

The complainant had clear expectations and targets in mind when he signed on the dotted line for Whelan Financial. He/she thought that prompt and transparent ways of communication would be employed all throughout whenever there were any problems or aspects that cropped up with regard to the hard earned investments made and also with regard to any changes in blueprint or operational dynamics. 

This client clearly thought that Whelan Financial would help out with regard to buying options and would guide him/her throughout the whole process. He/she also thought that in case the market is moving upwards, the money invested is also increasing likewise as a result. All these expectations were ground to dust courtesy the horrible experience that the client had with Whelan Financial. On grounds of overall communication with the client, initially things were much better as compared to previous financial advisory services but that was majorly to coax the client further into the minefield. Later on, the whole communication was absolutely the worst as per the complainant. 

Till that time, the client was thoroughly unhappy with the company’s overall performance but still wanted to give them more chances to prove him/her wrong. The complainant emailed the advisor, stating his/her concern about the account not performing as well as he/she would have liked and also asking for a call in order to discuss the whole scenario which would be beneficial for both parties. 

The first issue was that Whelan Financial did not even bother to respond to the email which had serious client concerns mentioned clearly in it. Secondly, the response, when it came, was disastrous. A second email was sent by the client after not getting any response for a pretty long time. Once this went through, the advisor finally bothered enough to call the client. She directly stated that since the client was not having his/her expectations fulfilled by the company, Whelan Financial had decided that they would not work with the client any longer! 

This came simply out of the blue and defied all logic. The client even asked the advisor about why the sudden break was initiated although no concrete responses were given. The client also stated his/her overall disappointment with the decision and service so far. He/she also asked whether the investments would be managed by Whelan Financial until a new financial advisory service was found. The full and final response was a big NO and there was no reassurance from the company or any apology for the under-performance of the client’s investments. Until this point, there was not even a single argument between the client and the company so such behaviour really seemed strange. The earlier conversations did not even have any accusations, harsh allegations, rudeness or any calling out names and so on. This suddenly surprised the client. Anybody who is so unprofessional and does not even know how to do the job is not someone to be trusted with multiple investments and future financial security as reasoned by the client who ultimately thinks that this was actually a blessing in disguise. 

Nobody really desires a financial advisor that is volatile and unprofessional while not being bothered at all about the performance of the client’s portfolio and meeting the financial goals of the client. This naturally led the client to think that there was no reason to ask them to continue in the future as well. Now, the client had previously thought that the company would help him/her with regard to options that he/she may have wished to buy. However, instead of giving proper guidance, they broke the account into two parts and told the client that he/she could manage and track his/her own transactions and everything else would be managed by them. This was not helpful or convenient at all for the client which basically meant that Whelan Financial was not interested in getting any work done and was basically pushing part of the job on the shoulders of the client himself/herself. 

Due to this aspect, when the client thought of buying options during an IPO that was about to take place sometime in the near future, the account was not configured suitably for finishing the purchase transaction. The client could not purchase the options that he/she had been anxiously waiting to buy for more than a year and the long wait was due to availability. The client had also expected that the money invested would increase with the market picking up. However, this did not happen as well. 

The only thing that the client liked was the split of the account so that he/she could compare his/her own performance in investments with the performance of investments being managed by Whelan Financial. The individual purchases performed more than expected and even surpassed all expectations while the Whelan Financial managed investments did poorly overall. The investments did not grow at all and this hampered several short-term and mid-term goals of the client. The client has now moved onto much better financial solutions but shared the experience since nobody should trust such fraudulent and uncaring companies like Whelan Financial. It is companies like these which give a bad name to the financial advisory and services sector, making clients go through ample trauma before they finally realize the mistake that they were making till then. 


Reference Link: 

Consumer Reviews and Complaints


Rate and Write a Review on Whelan Financial


Be an Informed Consumer

An informed consumer is capable of making sensible decisions, gains insight about a business prior to an interaction or transaction. Our newsletter provides resources and information that informs you, the consumer. of such things as consumer rights and protection.