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.
Just five actions were started in the first half of fiscal 2026, a new analysis finds.
For business owners, the company is often more than an income source. It becomes their largest asset, their retirement plan, and in many cases, part of their identity. Advisors who understand that dynamics can deliver far greater value than traditional financial planning alone
John S. Winslow, 57, was indicted just over a year ago for his scheme to steal from an elderly client.
Hamachi's new model portfolio partnership and an industry-first solution from Vestmark join the growing wave of AI tools for wealth managers.
Meanwhile, LPL attracted a five-advisor team managing $380 million in Kansas, while a veteran with stripes from Morgan Stanley, UBS, and Fidelity has joined Prime Capital Financial.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
