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SEC fines two RIAS $150,000 over faulty client agreements

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Photo: Anna Moneymaker/Getty Images

Alexander Barzacanos

2 min read
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Penalties imposed over potentially misleading information on non-waivable legal rights.

The SEC has announced settled charges against two registered investment advisers: FamilyWealth Advisers, LLC (Florida) and FamilyWealth Asset Management, LLC (Texas). The pair were using retail advisory contracts that could potentially mislead clients about their non-waivable legal rights through hedge clauses and assignment provisions.

And the firms also failed to

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