Louis K Albenga, Chief Compliance Officer



    Unknown Rogue Elements Impersonate Capital Wealth Planning, LLC and Its Founder and Chief Executive Officer, Kevin Simpson

NAPLES, FL (June 7, 2024) – Yesterday, Capital Wealth Planning, LLC (“CWP”) was informed that someone was impersonating it and their Chief Executive Officer, Kevin Simpson on the mobile application Whatsapp ™. First, CWP does not use Whatsapp to market its services. Second, CWP only works with registered advisors, to provide investment advice to clients whom it has a contractual relationship with, and regardless, CWP only does so where it has trading discretion to make trades without needing to contact clients. Third, like all registered investment advisers, CWP only enters into contractual relationships with clients who have been provided its Form ADV, Parts 2A, 2B and 3. Fourth, CWP does not provide recommendations on individual stocks to strangers.  Doing so would violate its Code of Ethics. Fifth, CWP does not have “VIP Members,” as was claimed in the masquerading posts, and Sixth, CWP does not pay “cooperation commissions,” as claimed in the fake posts.

Upon discovering these sham communications, CWP has alerted local law enforcement, the Federal Bureau of Investigation, the Securities and Exchange Commission and has asked Whatsapp to take down the offending false posts as they seem to violate its own Terms of Service.

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