The Securities and Exchange Commission has obtained a final judgment against Sacramento, California-based investment adviser Keith Springer and his firm, Springer Investment Management. Springer agreed to settlements that included a associational bar and paying $400,000 in penalties against him and the firm.
The SEC’s complaint, filed in December 2019, alleged that Springer had defrauded hundreds of clients, many nearing or in retirement. Many of the clients had learned about Springer through his radio show, "Smart Money with Keith Springer."
The SEC alleged that Springer and his firm engaged in deceptive practices while soliciting new clients, including falsely claiming that they did not receive any incentives to recommend particular investments when they actually received compensation for recommending certain products.
The complaint also alleged that Springer and the firm breached their fiduciary duty by failing to disclose these arrangements and the conflicts of interest that resulted, filed false reports with the commission, and failed to maintain an adequate compliance program and required books and records.
As other states curb non-competes, the East Coast growth hub could soon become the most employer-friendly jurisdiction in the US.
Last summer, the two, David Gentile and Jeff Schneider, were found guilty of fraud in federal court in Brooklyn and received their sentencing today.
Early parenthood linked to lower fulfillment and fewer leadership roles, despite otherwise strong industry-wide support.
“It's the Golden Age, we're all blessed that this is where we are, what we do for a living, and that the sun is shining on the transition towards the RIA space," Creative Planning CIO Jamie Battmer said at a forum hosted by Goldman Sachs.
Strategists expect municipal bonds to best Treasuries during the four-month window from May until August, following a historical trend.
From direct lending to asset-based finance to commercial real estate debt.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
