By Tom Costello of Costello Law Group

Total Wealth Management and its founder, Jacob Cooper, are in trouble again with the Securities and Exchange Commission (SEC) after using client funds to settle a prior case with the SEC. To help settle the original charges, the firm and Cooper allegedly misappropriated $150,000 of client funds through “administrative” fees that ranged from $3,500 to $7,500. The SEC had originally filed charges against Total Wealth Management for failing to disclose to their clients that they were receiving kickbacks from Altus Funds. The SEC is now working to freeze Total Wealth’s assets and to appoint a trustee.