SEC Claims Total Wealth Management and Jacob Cooper Paid Themselves Kickbacks

Total Wealth Management, Inc. and its owner, Jacob Keith Cooper, breached their fiduciary duties to clients and investors in connection with investments made in the unregistered Altus Capital Opportunity Fund, LP and a series of unregistered funds referred to as the Altus Portfolio Series, according to a cease and desist order filed by the Securities and Exchange Commission (“SEC”).

Total Wealth Management and Cooper breached their fiduciary duties to their clients and investors through a fraudulent scheme to collect, and conceal their receipt of, undisclosed revenue sharing fees derived from investments they recommended to their clients, according to the order. Total Wealth Management and Cooper each received undisclosed revenue sharing fees, which were funneled through entities created by the individuals to mask their receipt of fees, according to the order.

Total Wealth Management and Cooper materially misrepresented to investors and clients the extent of the due diligence conducted on the investments they recommended, according to the order.

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1159 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.