TCFG Investment Advisors Charged by SEC | Recover Investment Losses

TCFG Investment Advisors Charged by SEC | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC:  

The Securities and Exchange Commission charged Laguna Niguel, California-based TCFG Investment Advisors, LLC (TCFG), TCFG’s affiliated broker-dealer TCFG Wealth Management, LLC (TCFG Wealth), and Richard James Roberts – their CEO, president, and managing member – with making materially false and misleading statements and omissions related to fee markups charged to TCFG’s advisory clients.

According to the SEC’s complaint, filed in the U.S. District Court for the Central District of California, from June 2014 through April 2020, TCFG and Roberts breached their fiduciary duty to advisory clients. As alleged, TCFG and Roberts disclosed that TCFG Wealth “may” receive portions of the fees charged to TCFG accounts by its unaffiliated clearing and custody firm when, in fact, Roberts had directed that firm to charge TCFG clients significant markup fees that were paid to TCFG Wealth. The complaint alleges that TCFG and Roberts later disclosed the existence of markups, but continued to mislead TCFG clients by claiming that it was only imposed “in some limited instances.” Roberts and TCFG allegedly knew, or were reckless and negligent for not knowing, that the clearing and custody firm’s ticket charges were instead marked up approximately 60 percent of the time. The complaint further alleges that TCFG – for which Roberts served as chief compliance officer – failed to implement written policies and procedures reasonably designed to prevent the sorts of disclosure and conflict of interest violations that arose from these practices. According to the complaint, Roberts used TCFG Wealth to aid and abet TCFG’s and Roberts’s violations.

Investors with TCFG Investment Advisors May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested with TCFG Investment Advisors, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.

All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.

There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

If you incurred investment losses in TCFG Investment Advisors and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.

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