The Securities and Exchange Commission has charged Clifton Curtis Sneed Jr. of Cedar Hill, Texas, with defrauding investment advisory clients out of at least $1.1 million.
Sneed, who is now incarcerated in a federal corrections institution in Texas awaiting trial on wire and securities fraud charges in a related criminal case, allegedly concealed his lengthy criminal past and lied about his credentials when pitching investments with outsize returns to church members.
From sales to these individuals, Sneed allegedly received more than $400,000 in fees and undisclosed commissions.
Sneed's history includes pleading guilty to felony securities fraud and other securities violations in Utah and being ordered to cease and desist from securities offerings in multiple states on numerous occasions from 2006 through 2018.
In this case, the SEC is seeking a permanent injunction against Sneed, a conduct-based injunction, disgorgement of allegedly ill-gotten gains with prejudgment interest and a civil penalty.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
