{"id":1434,"date":"2014-04-18T15:02:07","date_gmt":"2014-04-18T15:02:07","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/04\/sec_charges_total_wealth_manag"},"modified":"2022-03-11T09:18:49","modified_gmt":"2022-03-11T15:18:49","slug":"sec-charges-total-wealth-manag","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-total-wealth-manag\/","title":{"rendered":"SEC Charges Total Wealth Management With Securities Fraud, Receiving Undisclosed Kickbacks"},"content":{"rendered":"

\t\t\t\tThe Securities and Exchange Commission has filed a financial fraud case<\/a> against Total Wealth Management Inc., an investment advisory firm based in Southern California. The regulator is accusing the firm of getting undisclosed kickbacks over investments recommended to clients. It is also alleging breach of fiduciary duty.<\/p>\n

According to the SEC’s complaint, Total Wealth placed about 75% of 481 client accounts into Altus Funds, which is a family of proprietary funds. The investment advisory firm has a revenue-sharing deal that allows them to get kickbacks. The regulator says this was a conflict of interest because customers did not know about the agreement.<\/p>\n

The Wall Street Journal<\/em> reports that according to the SEC, Altus invested 92% of all its investments-$32 million-in funds that had revenue sharing deals with Total Wealth. The agency says that clients likely wouldn’t have put their money with Total Wealth if they had known that the majority of the Altus funds were paying the firm. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission has filed a financial fraud case against Total Wealth Management Inc., an investment advisory firm based in Southern California. The regulator is accusing the firm of getting undisclosed kickbacks over investments recommended to clients. It is also alleging breach of fiduciary duty. According to the SEC’s complaint, Total Wealth placed […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3781,3760,3741],"tags":[],"class_list":["post-1434","post","type-post","status-publish","format-standard","hentry","category-investment-advisers","category-sec-enforcement","category-securities-fraud"],"yoast_head":"\nSEC Charges Total Wealth Management With Securities Fraud, Receiving Undisclosed Kickbacks — Investor Lawyers Blog — April 18, 2014<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission has filed a financial fraud case against Total Wealth Management Inc., an investment advisory firm based in — April 18, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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