SEC Accuses Investment Adviser of Failing to Disclose Conflict of Interest

On September 24, 2008, the SEC filed a complaint in a Los Angeles federal district court accusing WealthWise, LLC, an investment adviser, and its owner and principal, Jeffrey A. Forrest, with fraud for failing to disclose a material conflict of interest with a hedge fund it recommended its clients invest in.  The case is a reminder of the need to fully disclose all fee sharing arrangements.

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