Litigation Release No. 25010 / January 19, 2021
Securities and Exchange Commission v. Michael Sztrom, David Sztrom, and Sztrom Wealth Management, Inc., Civil Action No. 21-CV-00086-H-RBB (S.D. Cal. filed January 15, 2021)
The Securities and Exchange Commission charged father and son investment advisers, Michael and David Sztrom of Rancho Santa Fe, California, and their company Sztrom Wealth Management, Inc., with defrauding advisory clients by creating the false impression that Michael Sztrom was associated with registered investment adviser Advanced Practice Advisors, LLC (APA).
The SEC s complaint alleges that, from November 2015 through March 2018, David and Michael Sztrom provided investment advice to clients through Sztrom Wealth Management (SWM). As alleged, David and Michael Sztrom concealed from clients that Michael Sztrom was not associated with APA or any registered investment adviser and was not subject to compliance oversight by APA or any other firm. As alleged in