Enhancing services for their clients is a top priority for some successful financial advisors, according to a recent Advisor Authority study, "Successful Advisors: The Year Over Year Trends."
Eccleston Law Blog
Page 1 of 126
Some Successful Advisors Value Adding Staff and Technology Above Attracting New Clients
Posted on September 13th, 2019 at 12:17 PM
Lake Geneva Investor Settles SEC Market-Timing Probe for $2.37 Million
Posted on September 12th, 2019 at 11:44 AM
A mutual fund investor agreed to pay the Securities and Exchange Commission (“SEC”) nearly $2.37 million to end an investigation.
New York RIA Head Is Sentenced To 13 Years For Ponzi Scheme, Daughter Indicted
Posted on September 11th, 2019 at 2:58 PM
President of Executive Compensation Planners (“ECP”), Hector May, pled guilty last December to stealing $11.5 million from investors in a Ponzi scheme. He has been sentenced to 13 years in prison and ordered to pay $8.4 million in restitution.
Schwab Accuses Former Adviser of Soliciting a Client
Posted on September 10th, 2019 at 1:52 PM
Adviser John VanEngelenhoven left his employer, Charles Schwab, to open an RIA that custodies with TD Ameritrade Institutional. Now he faces a FINRA arbitration and preliminary injunction as Schwab accuses him of soliciting at least one of the company’s clients. VanEngelenhoven is among several ex-Schwab advisors who have been taken to court this year over client solicitation.
SEC Charges Former CFO of Florida Cash Advance Company with Fraud
Posted on September 9th, 2019 at 4:19 PM
The Securities and Exchange Commission ("SEC") charged 1 Global Capital LLC's ("1 Global") former chief financial officer, Alan G. Heide, with defrauding retail investors. The now-bankrupt Florida-based cash advance company allegedly fraudulently raised more than $322 million from 3,600 investors between 2014 and last year.
Compliance with CFP Board’s New Code of Ethics and Standards
Posted on September 6th, 2019 at 4:21 PM
When the CFP Board's new Code of Ethics and Standards of Conduct ("Code and Standards") takes effect on June 30, 2020, the CFP Board will expect 63,000 CFP professionals to act in the best interests of their clients at all times when providing an investor with "financial advice."
Los Angeles Investment Adviser Indicted
Posted on September 5th, 2019 at 5:04 PM
A federal grand jury in Los Angeles has indicted investment adviser Motty Mizrahi on wire fraud charges. The SEC previously charged Mizrahi and his sole proprietorship MBIG Company in an emergency action where it obtained a temporary restraining order and subsequently a preliminary injunction against Mizrahi and MBIG, for perpetrating a fraud on their investment advisory clients.
SEC Charges Former Florida Broker in Alternative Investment Scheme
Posted on September 4th, 2019 at 4:18 PM
The Securities and Exchange Commission ("SEC") has charged Boca Raton, Florida resident Scott P. Strochak, a former broker, with making material misrepresentations regarding an investment fund scheme that targeted retail investors, and for acting as an unregistered broker. Strochak participated in a fraudulent scheme that raised nearly $3.8 million from at least 17 retail investors. The SEC halted the scheme in February when it filed an emergency action against Castleberry Financial Services Group, LLC, its president T. Jonathon Turner and its CEO Norman M. Strell.
SEC Charges Real Estate Company and its Founder with $8.75 Million Offering Fraud
Posted on September 3rd, 2019 at 5:03 PM
The Securities and Exchange Commission ("SEC") brought fraud charges against a real estate company, Hartman Wright Group, LLC and its founder, Tytus W. Harkins, for raising over $8 million in an unregistered real estate-based offering fraud.
SEC charges Chicago Financial Adviser with $1.7 Million Fraud
Posted on August 30th, 2019 at 3:57 PM
The Securities and Exchange Commission ("SEC") charges Marcus Boggs, a former Chicago investment adviser at the Chicago office of Merrill Lynch, with stealing over $1.7 million from at least three of his clients.
Page 1 of 126