On Tuesday, November 28, 2017, the Department of Financial Institutions announced that it had entered a Final Order to stop fraudulent activity by an investment adviser representative and his firm. Louisville investment adviser representative Derek Burcham and his firm, Cornerstone Advisors LLC, operating under the name Cornerstone Wealth Advisers, were stated to have taken fees from investors that had not been earned. In some instances, the fees greatly exceeded what was contractually allowed. The firm has been ordered to pay more than $830,000 in restitution and $575,000 in fines.