Neil Maxwell has been barred from using the designation because his firm.
Maxwell Wealth Planning, allegedly invested two senior clients’ funds in a “blockchain” investment fund managed by an unlicensed investment adviser without the clients’ prior knowledge.
He also is charged with requesting a loan from a client after the client declined to invest in a block-chain investment fund.
“Block-chain”is a distributed, decentralized public ledger,” and is the record-keeping technology behind Bitcoin electronic currency. According to FINRA, Maxwell lost his designation after only 7 years in practice.
Reportedly Neil Maxwell and Maxwell Wealth Planning, Inc. failed to comply with rules concerning exploitation, incomplete disclosure, and manipulative and deceptive practices.
Maxwell and the firm were ordered by the Colorado Division of Securities to provide restitution to two advisory clients who invested in Global Value Asset Fund in the amount of $170,000.
Maxwell is barred from association with any licensed broker-dealer, investment adviser, or federally covered adviser that conducts business in Colorado.