Total Wealth Management Inc., a San Diego-based investment firm, faces fraud charges after allegations by the Securities and Exchange Commission (SEC) that they had mislead investors. These allegations arose after the firm allegedly invested approximately three-fourths of its clients' funds into Altus Funds. Altus Funds are a group of proprietary funds that had a revenue sharing agreement with Total Wealth Management. Even though not all revenue sharing agreements are illegal, Total Wealth failed to disclose to their clients that they were receiving kickbacks for funneling investments to Altus.
If you believe you have been victimized by securities fraud, financial malpractice, or theft by a FINRA registered broker, please call the securities attorneys of the Costello Law Group at (877) 418-0003 for a free consultation.
To read more, please visit: http://www.investmentnews.com/article/20140415/FREE/140419940