State of Missouri
Office of Secretary of State

Case No. AP-06-51

IN THE MATTER OF:

ROBERT OLSEN
ROBERT OLSEN, P.C.

Respondents.

CONSENT ORDER

  1. The Missouri Securities Division alleges that Robert Olsen and Robert Olsen, P.C. engaged in activities as an unregistered investment advisor and unregistered investment advisor representative in violation of §§409.4-403, 409.4-404, RSMo Supp. 2005.

  2. Robert Olsen and Robert Olsen, P.C. desire to settle the allegations and the matters raised by the Securities Division relating to Robert Olsen and Robert Olsen, P.C.’s alleged unregistered activities.

  3. Robert Olsen and Robert Olsen, P.C. and the Securities Division agree that the Commissioner has jurisdiction over these Respondents and these matters pursuant to the Missouri Securities Act, Chapter 409, et seq.

  4. Robert Olsen and Robert Olsen, P.C., without admitting nor denying it violated Missouri law, stipulates and agree to the issuance of this Consent Order without further proceedings in this matter, agreeing to be fully bound by the terms and conditions specified herein.

  5. Robert Olsen and Robert Olsen, P.C. waives its right to a hearing with respect to this matter.

  6. Robert Olsen and Robert Olsen, P.C., stipulate and agree that it waives any right that it may have to seek judicial review or otherwise challenge or contest the terms and conditions of this Order.  Further, Robert Olsen and Robert Olsen, P.C. specifically forever release and holds harmless the Missouri Office of Secretary of State, Secretary of State, Commissioner of Securities and their respective representatives and agents from any and all liability and claims arising out of, pertaining to or relating to this matter.

  7. Robert Olsen and Robert Olsen, P.C., stipulate and agree that, should the facts contained herein prove to be false or incomplete, the Missouri Securities Division preserves the right to pursue any and all legal or administrative remedies at its disposal.

  8. Robert Olsen and Robert Olsen, P.C., agree that, should it violate any part of this Order, including the prohibitions set forth in sections 1 and 2 of the Order section of this Order, any suspended fine, penalty or payment shall be immediately payable to the Division and the Division shall have all enforcement powers and authority available to it under Missouri law.

COMMISSIONER’S FINDINGS OF FACT AND CONCLUSIONS OF LAW

  1. Robert Olsen is an investment advisor representative with an address of 177 Chesterfield Business Parkway, Chesterfield, MO 63005.

  2. Robert Olsen, P.C. is an investment advisor with an address of 177 Chesterfield Business Parkway, Chesterfield, MO 63005

  3. Strategic Financial Advisors, Inc. was registered in Missouri as an investment adviser in Missouri from August 25, 2000 until December 31, 2004.

  4. Robert Olsen served as President of Strategic Financial Advisors, Inc.

  5. Robert Olsen and Company was licensed as a professional corporation with the Missouri State Board of Accountancy.

  6. On December 31, 2004, Strategic Financial Advisors, Inc. and Robert Olsen and Company, merged and the surviving firm was renamed Robert Olsen, P.C.

  7. Robert Olsen was registered as an investment advisor representative until December 31, 2004.

  8. On July 15, 2005, Robert Olsen once again became registered as an investment advisor representative in Missouri.

  9. On July 14, 2005, Robert Olsen, P.C. became registered in Missouri as an investment advisor.

  10. Between January 1, 2005 and July 13, 2005, Robert Olsen, P.C. transacted business in Missouri as an unregistered investment advisor.

  11. Between January 1, 2005 and July 14, 2005, Robert Olsen transacted business in Missouri as an unregistered investment advisor representative.

  12. From January 1, 2005 through June 30, 2005, Robert Olsen P.C. collected investment advisory fees in the amount of $128,738.30.

  13. An Order is in the public interest.

JURISDICTIONAL BASIS

  1. Robert Olsen and Robert Olsen, P.C. and the Securities Division stipulate and agree that the Commissioner has jurisdiction over these matters pursuant to the Missouri Securities Act, Chapter 409, et al.

  2. Robert Olsen and Robert Olsen, P.C. and the Securities Division stipulate and agree that the Commissioner has authority to enter this Consent Order pursuant to §409.6-604(h), RSMo. (Cum. Supp. 2005), which provides: 

    The commissioner is authorized to issue administrative consent orders in the settlement of any proceeding in the public interest under this act.

ORDER

WHEREAS, the Commissioner, after consideration of the stipulations set forth above and on the consent of Robert Olsen and Robert Olsen, P.C. and the Securities Division, finds the following Order to be in the public interest, necessary for the protection of public investors and consistent with the provisions of Chapter 409, et al.

NOW, THEREFORE, it is hereby Ordered that:

  1. Robert Olsen and Robert Olsen, P.C., are ordered to take all necessary actions to maintain registration required under §§409.4-403, and 409.4-404, RSMo. (Cum. Supp. 2005).

  2. Robert Olsen and Robert Olsen, P.C., are jointly and severally ordered to pay ten thousand dollars ($10,000) to the Missouri Secretary of State’s Investor Education and Protection Fund. Robert Olsen will deliver a check to the Securities Division in the amount of $5,000 made payable to the Missouri Secretary of State to be deposited into the Missouri Secretary of State’s Investor Education and Protection Fund within thirty (30) days of the effective date of this Order. The remaining $5,000 of the $10,000 payment will be suspended provided that Robert Olsen and Robert Olsen, P.C., do not transact business as an unregistered investment advisor representative or as an unregistered investment advisor or employs an unregistered investment advisor representative during the next two years.

  3. In the event that Robert Olsen or Robert Olsen, P.C., violates Paragraph 1 of the Order section of this Order, by transacting business as an unregistered investment advisor representative, an unregistered investment advisor or employs an unregistered investment advisor representative in the two years following the effective date of this Order, the suspended $5,000 fine, penalty or payment shall be immediately payable, and the Securities Division will be able to take all enforcement action available to it under Missouri law.

SO ORDERED:

WITNESS MY HAND AND OFFICIAL SEAL OF MY OFFICE AT JEFFERSON CITY, MISSOURI THIS 22 ND DAY OF JANUARY, 2007

ROBIN CARNAHAN
SECRETARY OF STATE

(Signed/Sealed)
MATTHEW KITZI
COMMISSIONER  OF SECURITIES

Consented to by:

Lori J. Neidel  
Chief Enforcement Counsel
Missouri Securities Division

Robert Olsen and Robert Olsen, P.C.