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Advisor terminated for failure to follow firm policy and conflicts related to his employment agreement. Advisor opened and was registered with his own competing RIA, while employed and registered with the firm.
Broker Comment
Mr. Preece's Form U-4 was inappropriately filed by a third party on August 22nd, 2023. On August 25, 2023, CliftonLarsonAllen Wealth Advisors terminated Mr. Preece, stating, "Advisor terminated for failure to follow firm policy and conflicts related to his employment agreement. Advisor opened and was registered with his own competing RIA, while employed and registered with the firm." Mr. Preece had not conducted any outside business activities, nor held himself or his entity out as a registered investment adviser. Neither Mr. Preece nor his firm had any clients and neither received any form of outside compensation. Mr. Preece's firm was not registered until August 30, 2023, and thus Mr. Preece could not and did not conduct any business through his own RIA as the firm was not yet registered to do business.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.