Idaho-based UCI Wealth Advisors and its primary owner, Travis Higgins, stipulated to an order revoking their investment adviser licenses in Colorado over alleged violations of a mandatory disclosure provision, according to the state Division of Securities.
They also agreed not to reapply for a Colorado license.
According to an investigation by the state agency, Higgins and UCI failed to adequately disclose potential conflicts of interest regarding investment of clients’ funds with Cache Private Capital Management. Higgins had received portions of personal loans from Cache to a family partnership and had become an officer at Cache, the agency said.
Although Higgins and UCI agreed to the revocations, they neither admitted nor denied the allegations, according to the division.
