The Securities and Exchange Commission (“SEC”) has charged a Houston-based advisory firm with fraud for failing to disclose conflicts of interest to investors. Robare Group Ltd. (“Robare”) had a compensation arrangement in place with the un-named brokerage firm who was offering the mutual funds. The arrangement allowed Robare to receive a percentage of every dollar received for recommending the mutual fund to clients. Over eight (8) years Robare received almost $440,000 from the broker.