FINRA

Without admitting or denying the findings, Hansen consented to the sanctions and to the entry of findings that he engaged in an unapproved outside business activity (OBA) by preparing a will and trust agreement for his member firm customer, for which he charged the customer's family. The findings stated that Hansen, who is not an attorney and has never attended law school, prepared a will and an irrevocable family trust agreement for the customer by downloading samples and modifying the documents based on what he believed to be the customer's wishes. The customer signed the will and trust agreement and died shortly thereafter. Hansen later mailed the customer's son an itemized invoice for $5,050, which included a $1,000 charge for estate planning, a $1,500 charge for the will, and a $2,000 charge for the trust agreement. Hansen did not provide prior written notice to his firm of any of the services he provided the customer as an OBA.

Acceptance, Waiver & Consent(AWC)

Civil and Administrative Penalty(ies)/Fine(s)

$7,500.00

Suspension

All capacities

three months

3/1/2021

5/31/2021

Colorado Division of Securities

As disclosed in Occurrence 2078598, Mr. Hansen stipulated to an injunction by the Colorado Supreme Court related to his unauthorized practice of law.

Order

Undertaking

As a condition of his firm's registration and his being licensed, Mr. Hansen agreed to certain undertakings that included, without limitation, engaging a compliance consultant to provide supervision over the advisory business conducted by BCIM and Mr. Hansen.

Colorado Supreme Court, Office of Attorney Regulation Counsel

The relevant Petition alleged that Mr. Hansen engaged in the unauthorized practice of law by drafting a living trust and will for his former client M.G., which she signed before her death, and then sending an invoice to one of M.G.'s surviving family members.

Consent

Restitution

Injunction

M.G.'s family members and Mr. Hansen believed M.G. was close to death and might imminently pass away in the Spring of 2019. M.G. herself, and her family members, were concerned that she had not made any provision for the disposition of her assets, including her home, and Mr. Hansen was asked to advise them concerning these matters. Mr. Hansen did not seek this responsibility. At the time, M.G. was in full possession of her faculties and, in Mr. Hansen's opinion, was mentally capable of giving directions and making decisions. M.G. expressed to Mr. Hansen on many occasions her distrust of attorneys. Because of M.G.'s attitude toward attorneys, Mr. Hansen copied prototypes of a will and an irrevocable trust from the Legal Zoom website, and amended them to reflect what he believed were the wishes of M.G. and her family members. He gave the drafts to M.G. and her family members for review and any revisions that they believed necessary to effect the intentions of M.G. They told Mr. Hansen they would then show the drafts to an attorney so that all necessary legal formalities would be satisfied. They knew that Mr. Hansen was not an attorney, Mr. Hansen never represented himself as such and his email signature block indicated that he was a financial services professional. Mr. Hansen performed these services primarily as a favor and accommodation to M.G. and her family members. Contrary to Mr. Hansen's advice, he does not believe M.G. or her family members ever asked an attorney to review the relevant documents.

LPL Financial LLC

Discharged

Preparation of will and trust for a customer without prior disclosure and approval from Firm.