Bell Rock Capital, LLC is an investment advisory firm founded in 2006 by Cassandra Toroian, who is also the majority owner and Managing Member of the LLC.
The firm offers customized advisory services, including asset management, financial planning, and 401(k) retirement plan fiduciary and advisor services. For a free consultation, please call us now at 866-827-3202 or complete our contact form.
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By contrast, the securities that Toroian allocated to her clients’ accounts decreased in value by -more than 1.3%, or a loss of over $1 million, between the time Toroian purchased them and when she allocated them. Bell Rock also provides financial planning services, which include reviewing and clarifying clients' financial goals, assessing their overall financial position, creating a unique plan for each goal, developing a goal-oriented investment plan, designing a risk management plan, and crafting and implementing an estate plan.
If you or your loved one experienced investment losses, we are here to help. As of December 31, 2022, Bell Rock has $192,723,522 of discretionary assets under management and $304,915,554 assets under advisement. “I guess you could say I am part of a group out there that believes in the democratization of anything related to finance,” she said.
It also charges Bell Rock with failing to adopt and implement adequate compliance policies in violation of Section 206(4) of the Advisers Act and Rule 206(4)-7 thereunder and charges Toroian with aiding and abetting those violations.
If you have any information about Bell Rock Capital and its principal, M. Cassandra Toroian, that you would like to share or discuss, please call our firm for a confidential consultation.
The firm does not maintain a wrap fee program and does not provide non-investment consulting or implementation services. The complaint charges Bell Rock and Toroian with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, Section 17(a) of the Securities Act of 1933, and Sections 206(1), 206(2) of the Investment Advisers Act of 1940.
Under the 3(21) arrangement, the plan sponsor or trustee and 3(21) fiduciary adviser share responsibility and accountability for the investment decisions made at the plan level. She also agrees to no longer work with clients on investments or advise them on investments, and pay a $220,000 fine.
Toroian did not comment on the settlement.
Before the final judgment, Toroian signed a consent order that effectively prevents her from discussing the case.
In it, she agrees to “not take any action or make or permit to be made any public statement denying, directly or indirectly, any allegation in the complaint or creating the impression that the complaint is without factual basis.”
The consent order goes on to prevent her from making or “permit to be made any public statement to the effect that she does not admit the allegations of the complaint, or that this consent contains no admission of the allegations, without also stating that she does not deny the allegations.”
Toroian has since stepped away from Bell Rock Capital, a firm she founded in 2006 eventually serving up to 200 clients and managing as much as $220 million in assets.
She said she sold the company to another registered investment advisor in July, and neither she or her company have been registered advisors for several months.
Toroian has since started a new company, Firsthand Research and Consulting, that builds on her experience and financial background but has a focus on new technologies such Blockchain and cryptocurrency.
For retirement plan fiduciary and advisor services, Bell Rock offers two options: 3(38) Fiduciary Investment Manager and 3(21) Fiduciary Investment Adviser. We represent investors in claims against negligent brokers and brokerage firms. Mutual funds are rarely used, but legacy positions can be held within the portfolio. Additionally, Bell Rock and Toroian misrepresented to clients that all trades would be allocated fairly and that Bell Rock and Toroian would not put their interests before their clients’ interests.
Under the 3(38) arrangement, Bell Rock assumes full responsibility for the fiduciary functions concerning decisions related to the plan investment selections.
Former Rehoboth financial advisor settles SEC lawsuit
A former Rehoboth Beach financial advisor has settled a lawsuit filed against her by the Securities and Exchange Commission, agreeing to step away from her business and pay a fine.
In 2022, the SEC filed a civil suit in U.S.
District Court for the Eastern District of Pennsylvania against Cassandra Toroian alleging she cherry-picked trades – a process of buying and selling funds, but giving profits to only a few investors and posting losses for the rest – after a broker terminated business with Toroian’s company Bell Rock Capital, the lawsuit states.
In a 2022 interview, Toroian said the lawsuit came down to arbitrary numbers and data based on handpicked trades over a single day as opposed to actual long-term performance.
As part of the settlement, Toroian neither admits or denies the allegations in the complaint.