Business ProfileforStrong Wealth Management LLC
Current Alerts For This Business
December 20, 2022 The following describes a Consent Order that has been formally brought by a government agency. The Department of Financial Protection and Innovation alleges, and charges as follows:
On June 30, 2022, the Commissioner instructed Strong Wealth to file an annual amendment to its Form ADV in Investment Adviser Registration Depository (IARD) no later than 30 days after June 30, 2022, the date of the letter.
According to IARD, the investment adviser failed to timely file an annual updating amendment to its Form ADV for Fiscal Year 2021. Pursuant to California Code of Regulations, title 10, section 260.241.4, subdivision (e), a licensed investment adviser shall file an annual updating amendment, in accordance with the instructions in Form ADV, with IARD in accordance with its procedures for transmission to the Commissioner within ninety (90) days of the end of the investment adviser's fiscal year.
As a result of the foregoing, on or about September 8, 2022, the Commissioner issued an Order to Discontinue Violation against Strong Wealth. After the Order to Discontinue became final, Strong Wealth still did not file an annual updating amendment. On or about November 7, 2022, the Commissioned issued a Suspension Order against Strong Wealth for the continuing failure to file an annual updating amendment and for violation of the Order to Discontinue Violation.
On or about November 21, 2022, Strong Wealth submitted its 2021 annual updating amendment to Form ADV, with IARD. Strong Wealth admits to the jurisdiction of the Department of Financial Protection and Innovation (Department) and it is the intention of the Parties to resolve this matter without the necessity of a hearing and/or other litigation.
To access the full Department of Financial Protection and Innovation press release, please visit: https://dfpi.ca.gov/wp-content/uploads/sites/337/2022/12/Consent-Order-Strong-Wealth-Management-LLC.pdf?emrc=9c87a7
At-a-glance
Related Categories
Business Details
- Location of This Business
- 16 N Marengo Ave Ste 315, Pasadena, CA 91101-6141
- BBB File Opened:
- 3/12/2021
Customer Complaints
0 Customer Complaints
Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews
File a ComplaintBBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.