Failure to Disclose Fee Increases to Clients (09/05/24)

The SEC charged Raskob Kambourian Financial Advisors, Ltd. a formerly registered investment adviser with breaching its fiduciary duties by failing to disclose fee increases in financial planning and investment management fees to clients. The firm withdrew its registration as an investment adviser in 2023 and consented to a final judgement including disgorgement of over $1.5 million in excess fees plus interest and a $225,000 penalty.