WASHINGTON -- An investment advisory firm is facing fraud charges in connection with an undisclosed compensation arrangement the advisors allegedly maintained with their broker involving a set of mutual funds they were recommending to clients.

The SEC claims that over an eight-year period, the Houston-based Robare Group netted $440,000 in payments from a broker for persuading clients to invest in the funds in question, amounting to a clear conflict of interest that the co-owners of the firm failed to disclose.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access