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CreativeOne Securities

Kurta Law is investigating recommendations by CreativeOne Securities brokers. Investors should be aware of this firm’s conflicts of interest and speak with a securities attorney if they believe their account statements feature any red flags of broker misconduct.

CreativeOne Securities has operated under 71 names, including Voyage Financial Partners, Affinity Asset Management, Western Lakes Financial, and Wealth Wisdom Group. You can see the complete list on the firm’s BrokerCheck profile. The firm has its headquarters in Overland Park, Kansas.

Broker-Dealer Services

CreativeOne Securities offers the following investment products. Keep in mind that these products can feature too much risk for most retail investors.

Fees and Conflicts of Interest

CreativeOne discloses how their financial professionals earn money in the Customer Relationship Summary (Form CRS).

CreativeOne Securities is registered as both an investment advisor and a brokerage firm. Investors may work with financial professionals who are registered as either investment advisors or brokers, or both. Your financial professional’s compensation depends on their type of registration. Make sure you understand their registration and how their compensation may create conflicts of interest.
For instance, brokerage services include per-transaction fees and do not feature ongoing monitoring. Investment advisory services generally charge a percentage of assets and offer more active management of investments.
Mutual funds come with 12b-1 fees that offer ongoing fees for the firm. These fees create an incentive for brokers to recommend these investments over other types of investments.
Stocks come with per-transaction fees, while bonds feature markups or markdowns. These may not be as obvious as the per-transaction fees, which are also known as commissions. Commissions create an incentive for brokers to encourage you to trade more frequently.
Investors can also expect to pay standard clearing account fees and annual fees. They may also have to pay margin interest, IRA custodial fees, and other fees.

Regulatory Actions

Kurta Law wants investors to know about a regulatory action on CreativeOne’s record related to mutual funds. This disclosure appears on the firm’s detailed BrokerCheck record.

Mutual Fund Share Class Recommendations

On March 11, 2019, the Securities and Exchange Commission ordered CretativeOne Securities to reimburse customers following allegations that the firm had made inadequate disclosures in connection with its mutual fund share class selection practices and the fees it received. CreativeOne Securities representatives allegedly purchased or recommended mutual fund share classes that charged 12b-1 fees instead of lower-cost share classes.

Firms are required to know if their investors are eligible for lower-cost share classes and to recommend those instead of more expensive mutual funds.

The SEC ordered CreativeOne Securities to pay a disgorgement of $31,003 and a prejudgment interest of $4,372.

Broker Misconduct Allegations

CreativeOne Securities works with brokers who have records of investor disputes. Kurta Law is aware of the following current or former CreativeOne Securities brokers with misconduct records, but this is not necessarily a complete list. Contact a securities attorney if you have concerns about your broker’s conduct.

Eli Ajashvili: https://www.kurtalawfirm.com/blog/eli-ajiashvili/
Patrick Jenkins: https://www.kurtalawfirm.com/blog/patrick-jenkins/
Robert Larsen: https://www.kurtalawfirm.com/blog/robert-larsen/
Richard Robinson: https://www.kurtalawfirm.com/blog/richard-robinson/
Michael Binstock: https://www.kurtalawfirm.com/blog/michael-binstock/

Kurta Law Can Help

Investors who lost money working with a CreativeOne Securities broker should reach out to an investment fraud lawyer for help. Our attorneys offer free case evaluations and do not charge a fee unless we win your case. Call (877) 600-0098 or email info@kurtalawfirm.com.