Investment Advisory Services
Partners for Prosperity, LLCFind BBB Accredited Businesses in Investment Advisory Services.
Information and Alerts
Alert Details
This business has 1 alert.
Government Actions
The following describes a government action that has been resolved by either a settlement or a decision by court or administrative agency. If the matter is being appealed, it will be noted below.
Kim Diane Butler, of Mt. Enterprise Texas, agreed to the revocation of her license as an investment adviser representative with the Securities Commissioner. The revocation is part of a disciplinary order that Texas Securities Commissioner, Travis J. Iles entered on September 9, 2020.
From 2015 through 2017, through a network of organizations she owned and operated, Butler sold more than $5,000,000 of unregistered, alternative investments in Woodbridge Wealth, LLC. In December of 2017, the SEC filed a complaint against Woodbridge alleging it to be a massive Ponzi scheme that raised more than $1.2 billion from 8400 investors across the country.
In connection with her sales of Woodbridge, Butler received more than $300,000 in commissions. Butler breached the fiduciary duties owed to her clients by never disclosing the fact that she received a commission from the sales and never discussing the conflict of interest that existed due to her financial incentive to recommend clients purchase Woodbridge investments.
In addition to the revocation of her license, Butler is ordered to cease and desist from engaging in the unregistered sales of securities and from engaging in further fraudulent conduct.
Source: https://www.ssb.texas.gov/news-publications/small-town-big-problem-commissioner-revokes-investment-adviser-representative-mt
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.