CFP Revokes Financial Planner’s Certification After Assessment of SEC Penalties

cfp-revokes-financial-planners-certificationDrew K. Horter was a financial planner certified by the Certified Financial Planner Board of Standards (CFP Board).

Mr. Horter worked for Horter Financial Strategies and Horter Investment Management in Mason, Ohio.

In February 2019, Mr. Horter’s CFP certification was revoked after he failed to file an answer to the CFP Board’s complaint alleging misconduct related to a Securities and Exchange Commission (SEC) investigation.

According to the CFP Board’s discplinary action report, Mr. Horter and his firm consented to a finding by the SEC that the firm willfully violated the Investment Advisers Act of 1940 by preparing, reviewing, or approving false and misleading marketing materials that were distributed to the firm’s advisors and clients.

The SEC assessed Mr. Horter’s firm a $250,000 civil penalty, $46,209 in interest, and ordered it to disgorge $482,595, along with a cease and desist order. In addition to questions about these penalties, the CFP Board’s complaint also alleged a failure to cooperate with its investigation.

Mr. Horter declined to file an answer to the Board’s complaint, allowing the Board to deem the allegations admitted under its Disciplinary Rules and Procedures. Mr. Horter’s CFP certification was permanently revoked, effective February 22, 2019.

Get Help From Our Securities Fraud Attorneys Right Away

At Sonn Law Group, we are committed to protecting the investor. If you lost money because of a financial advisor’s breach of fiduciary duty or any other type of broker misconduct, our securities fraud attorneys can help. To get a free initial consultation, please call us today.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.