Droms Strauss Advisors, Inc.

Allegations: ON SEPTEMBER 9, 2024, THE SEC ANNOUNCED SETTLED CHARGES AGAINST DROMS STRAUSS, WITHOUT ADMITTING OR DENYING THE FINDINGS, THAT IT FAILED TO COMPLY WITH ADVISERS ACT RULE 206(4)-1 (THE "MARKETING RULE") AND SECTION 206(4) BETWEEN NOVEMBER 4, 2022 AND JUNE 3, 2024, THERE WERE INCONSISTENCIES BETWEEN THE FIRM'S DISCLOSURES DESCRIBING ITS CONFLICTS OF INTEREST AND A WEBSITE ADVERTISEMENT DESCRIBING ONE OF ITS INVESTMENT ADVISER REPRESENTATIVES AS "PROVIDING CONFLICT FREE ADVICE" WITHOUT PROVIDING CONTEXT AS TO THIS CLAIM. AS A RESULT OF THE SETTLEMENT, DROMS STRAUSS REMOVED THE INCONSISTENT LANGUAGE, PAID AN $85,000 FINE, AGREED TO A CEASE AND DESIST ORDER FROM VIOLATING THE MARKETING RULE, AND HAS UNDERTAKEN A THOROUGH REVIEW OF ITS MARKETING MATERIALS AND PRACTICES. DROMS STRAUSS RECOGNIZES POTENTIAL CONFLICTS OF INTEREST WILL ALWAYS EXIST, ATTEMPTS TO MITIGATE THOSE CONFLICTS, AND DISCLOSES THESE CONFLICTS IN THE DROMS STRAUSS FORM ADV PART 2A BROCHURE. Status: Final Sanction Detail: WITHOUT ADMITTING OR DENYING THE FINDINGS, DROMS STRAUSS ENTERED INTO THE OFFER WHEREBY DROMS STRAUSS WAS ORDERED TO CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF ADVISERS ACT SECTION 206(4) AND RULES 206(4)-1 THEREUNDER, CENSURED, REQUIRED TO CONFIRM AND CERTIFY THAT THE ADVERTISEMENTS DROMS STRAUSS IS PRESENTLY DISSEMINATING COMPLY WITH THE REQUIREMENTS OF THE MARKETING RULE AND THE SEC IMPOSED A CIVIL MONEY PENALTY IN THE AMOUNT OF $85,000, WHICH DROMS STRAUSS PAID IN FULL ON SEPTEMBER 10, 2024. Summary: SEE 12. B. ABOVE.