1st Global, a Dallas-based wealth management partner to CPA firms, recently brought suit against Florida-based 1 Global Capital LLC for the unauthorized use of its company name and logos in marketing itself and operating under the names 1st Global Capital LLC and 1st Global Capital Financial Services in violation of federal law. 1 Global Capital purported to be, among other things, a firm specializing in offering merchant cash advances to borrowers unable to obtain more traditional bank-financing.
After the filing of 1st Globals suit on July 27, 2018, 1 Global Capital LLC filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Florida. On Aug. 23, 2018, the U.S. Securities and Exchange Commission brought suit against 1 Global Capital LLC, its former CEO Carl Ruderman, and other related entities for an alleged scheme to defraud over 3,400 1 Global Capital LLC customers.
According to the SECs suit, 1 Global Capital LLC engaged a network of barred brokers and registered and unregistered investment advisers to offer and sell over $280 million in unregistered securities to investors in as many as 25 states nationwide.
As news of the SECs action against 1 Global Capital LLC spread, 1st Global proactively worked with news outlets such as Investment News and the Kansas City Star to make a distinction between the two. For more than 25 years, the Texas-based 1st Global has partnered with CPA firms to offer the highest level of wealth management services to clients. Unfortunately, many internet postings and numerous solicitations by law firms have incorrectly referred to 1 Global Capital LLC as 1st Global “ creating more confusion.
We want to make sure everyone understands we are in no way affiliated with 1st Global Capital LLC, 1 Global Capital LLC or 1st Global Capital Financial Services and they have nothing do with our company, David Knoch, president of 1st Global. 1st Global has requested and continues to request that all media outlets and other communications about this unfortunate situation accurately identify those involved.
1st Global Capital Corp. and 1st Global Advisors, Inc. are Delaware corporations incorporated in 1992, headquartered in Texas. As a wealth management partner to more than 300 CPA firms and 800 professionals throughout the United States, we are licensed to sell investments and provide advisory services.
Regulatory filings and information about 1st Global Capital Corp. can be found at brokercheck.finra.org. Regulatory filings and information for 1st Global Advisors, Inc. can be found at www.adviserinfo.sec.gov.
The company has no connection in any way to 1 Global Capital LLC, 1st Global Capital Financial Services LLC, 1 West Capital, or Carl Ruderman.
About 1st Global
1st Global was founded in 1992 by CPAs who believe that accounting, tax and estate planning firms are uniquely qualified to provide comprehensive wealth management services to their clients. 1st Global is a research and consulting partner that provides CPA, tax and estate planning firms with education, technology, business-building framework and client solutions that make these firms leaders in their professions through dedicated professional client relationships built around wealth management. Around 400 firms have chosen to affiliate with 1st Global, making it one of the largest financial services partners for the tax, accounting and legal professions.
Securities are offered through 1st Global Capital Corp. which is a member of FINRA and SIPC and is headquartered at 12750 Merit Dr., Ste. 1200 in Dallas, Texas, 214-294-5000. Investment advisory services are offered through 1st Global Advisors, Inc. Additional information about 1st Global is available at www.1stGlobal.com.
Ryan George, 214-294-5430