Licensing and Regulatory Affairs
Media Contact: LARA Communications 517-335-LARA (52727)
November 27, 2019 – On October 24, 2019, the Corporations, Securities & Commercial Licensing Bureau (CSCL) issued a Consent Order revoking the registrations of Daniel Cadez, Jr. – an investment adviser representative – and The Cadez Group, Ltd. d/b/a Advanced Financial Planning, Inc., – an investment adviser firm – both of Brownstown, Michigan.
“Our bureau will continue to protect the health, safety, and welfare of the public and take appropriate action against individuals who violate the law,” said CSCL Director Julia Dale. “As always, consumers should do their due diligence when it comes to long- and short-term investments. Be sure to frequently monitor your investments to avoid any potential or substantial losses.”
CSCL determined that the firm had unlawful custody of client funds or securities from 2015 through 2019 as a result of Mr. Cadez’s role in a private fund called Pishon, LP. Notices of Intent to Revoke, Orders of Summary Suspension, and a Notice and Order to Cease and Desist were issued. All orders may be found here.
The revocations will be final no later than 90 days after the effective date of the orders to allow time for an employee of the firm to affiliate with a different investment adviser and to distribute client funds for which the registrants have custody. In the interim, Mr. Cadez is prohibited from accepting new clients or providing investment advice to existing clients.
Before entering into an investment, Michigan consumers are encouraged to contact CSCL to request a registration check on any investment adviser, broker-dealer, agent, professional, or product. CSCL can be reached at 517-335-5237 or online at www.michigan.gov/securities. Securities orders, once issued, entered and served, can now be found online here.
The Corporations, Securities & Commercial Licensing Bureau (CSCL) is housed in the Department of Licensing and Regulatory Affairs (LARA).