The only lawsuit we can verify involving TSG Wealth Management, LLC is one the firm brought itself. In 2021 it sued former associates in California federal court for trade secret misappropriation, and the case ended in a settlement in 2022. Public records show no SEC or FINRA enforcement action against the firm.
Key takeaways
- The verifiable court case is TSG Wealth Management, LLC et al v. Rahamin Suares et al, No. 2:21-cv-03669 in the U.S. District Court for the Central District of California, filed April 29, 2021. In it, TSG was the plaintiff, not the defendant.
- The claim was brought under the federal Defend Trade Secrets Act. The parties filed a joint stipulation to dismiss the case pursuant to a settlement, which the court granted. The terms of that settlement are not public.
- We found no SEC or FINRA enforcement action, and no investor class action, filed against TSG Wealth Management, LLC as of this writing.
- Be careful not to confuse this firm with similarly named entities. Several unrelated companies use "TSG" in their names, and at least one of them has faced SEC charges. Always confirm the exact legal entity and CRD number before drawing conclusions.
- You can check any advisor's litigation and disciplinary history yourself in a few minutes using free public tools. The steps are below.
What can be verified about the firm
TSG Wealth Management, LLC is a private wealth advisory business operating across the western United States, with offices in states including California, Nevada, Colorado, Arizona, Washington, and New Mexico. Its public materials state that investment products and advisory services are offered through Wells Fargo Advisors Financial Network, LLC, a registered broker-dealer, and direct clients to FINRA BrokerCheck for firm and representative details.
Beyond those points, the responsible approach is to read the primary records rather than rely on secondhand summaries. Registration status, assets under management, services, fee arrangements, affiliations, and any disclosure events are all reported on the firm's Form ADV and its BrokerCheck record. Those documents are the authoritative source, and they are free to pull.
The one verifiable case, in plain terms
In April 2021, TSG Wealth Management, LLC, together with individuals named Allen Schreiber and Mark Schulten, filed suit in the Central District of California against Rahamin Suares, Michael Mais, and Pacific Coast Capital Management LLC. The single cause of action listed on the docket is the Defend Trade Secrets Act of 2016. In cases like this, an employer typically alleges that departing personnel took confidential business information. Those are allegations made by the plaintiff, and because the matter resolved by settlement rather than a court ruling, no judge or jury found the allegations proven.
According to the docket, the parties later filed a joint stipulation to dismiss the case pursuant to a settlement, and the court dismissed it. Settlement is not a finding of wrongdoing by anyone. The specific terms were not made public.
This is a routine type of dispute in the advisory world, where firms and departing advisors sometimes litigate over client information and non-solicitation obligations. It is very different from a case in which clients accuse a firm of mismanaging their money.
A word on similarly named firms
Company names that share initials cause a lot of confusion, and in this area the confusion can be damaging. In 2026 the SEC brought charges against Andrew Spaventa and entities including TSG Capital Advisors LLC and TSG Alpha Partners LLC over a pre-IPO investment scheme. Those entities are separate from TSG Wealth Management, LLC, the Wells Fargo Advisors Financial Network affiliate discussed here. Do not attribute one firm's regulatory history to another simply because the names look alike. The only reliable way to tell them apart is the legal entity name and CRD number on the official records.
How to check any advisor's disciplinary and litigation history
You do not need to take anyone's word, including ours. Here is how to verify an advisor or firm using primary sources.
- Investment Adviser Public Disclosure (IAPD), adviserinfo.sec.gov. Search the firm or individual by name. Open the Form ADV to see registration status, ownership, services, fees, and the disclosure section, which reports regulatory events, legal actions, and certain client disputes.
- FINRA BrokerCheck, brokercheck.finra.org. Look up brokers and brokerage firms. The report shows employment history, licenses, and any disclosures such as customer complaints, arbitrations, regulatory actions, or terminations. Read the detail behind each disclosure rather than just the count.
- State securities regulators. Your state agency, findable through the North American Securities Administrators Association at nasaa.org, holds records for state-registered advisers and can confirm registration and complaints.
- Court records. For civil suits, use PACER (pacer.uscourts.gov) for federal cases and the relevant state court's online portal for state cases. Search by the exact legal entity name. Read the actual docket and filings, and note whether a matter was dismissed, settled, or decided, since those outcomes mean very different things.
- The firm's own disclosures. The Form ADV Part 2 brochure and any Form CRS relationship summary describe conflicts of interest, disciplinary history, and how the firm is paid, in the firm's own words.
When you read these records, separate allegations from findings. A complaint or a lawsuit is a claim, not a conclusion. A settlement resolves a dispute without an admission. A regulatory finding or a court judgment is the point at which something has actually been decided. Holding those categories apart is the difference between informed diligence and rumor.
The bottom line
Based on public records, the only lawsuit tied to TSG Wealth Management, LLC is the trade secret case the firm itself filed in 2021, which settled in 2022. We found no enforcement action or investor suit against the firm. If you are evaluating this or any advisor, pull the primary records yourself and confirm the exact entity you are looking at.
For broader context on choosing and vetting advisors, see our wealth management hub, our guide to the top fee-only wealth management firms, our Peak Retirement Planning review, and our overview of Northern Trust Wealth Management.
This article is general information, not legal or financial advice. Court and regulatory records change over time. Consult the primary sources above and your own advisors before making decisions.
Frequently asked questions
Was TSG Wealth Management sued by its clients or investors?
No, the only verifiable lawsuit involving TSG Wealth Management, LLC is one the firm brought itself. In 2021 it sued former associates in California federal court for trade secret misappropriation under the Defend Trade Secrets Act, and the case settled in 2022. Public records show no SEC or FINRA enforcement action and no investor class action against the firm.
Does a settlement mean TSG Wealth Management did something wrong?
No, a settlement is not a finding of wrongdoing by anyone. In the 2021 case TSG was the plaintiff, and because the matter resolved by settlement rather than a court ruling, no judge or jury found the allegations proven. The specific terms were not made public. Separate allegations from findings: a lawsuit is a claim, not a conclusion.
Is TSG Wealth Management the same firm the SEC charged?
No, TSG Wealth Management, LLC is not the firm the SEC charged. In 2026 the SEC brought charges against Andrew Spaventa and entities including TSG Capital Advisors LLC and TSG Alpha Partners LLC over a pre-IPO investment scheme. Those are separate entities. The only reliable way to tell similarly named firms apart is the legal entity name and CRD number on official records.
How can I check an advisor's disciplinary and litigation history myself?
Check an advisor using primary sources: the SEC's Investment Adviser Public Disclosure site at adviserinfo.sec.gov, FINRA BrokerCheck at brokercheck.finra.org, your state securities regulator via nasaa.org, and court records through PACER for federal cases. Search by the exact legal entity name, read the detail behind each disclosure, and note whether a matter was dismissed, settled, or decided.