Another Iffy PGA Tour Partner
/Thanks to reader Eric for catching this item about a Champions Tour sponsor in Pablo Torre's look at athletes who get lured into bad investments. (No truth to the rumor that Torre is next working a feature detailing how golf administrators signed up a few too many swindlers as sponsors.)
Triton is an official partner of the Heisman Trophy Trust and the sponsor of the Triton Financial Classic, a PGA senior tour event.
Sorry, must interrupt. Isn't SI a little too old to still be using "PGA" instead of PGA Tour. Naturally, the lack of a Champions Tour mention can't happen if you don't know the difference between the PGA of America and the PGA Tour. Please, continue...
Its CEO, Kurt Barton, told SI that the firm manages "about $300 million" in assets, and he claimed that Triton registered with the SEC (as is required by law of investment adviser firms with at least $25 million in assets under management) "roughly six months ago, around October." But the Texas State Securities Board and Triton chief compliance officer David Tuckfield said that the company has not, in fact, done so. "Right now, we're only registered with Texas," Tuckfield said. "But we're passing the [assets] threshold, and we're confident that we'll need to file this year."
The event is currently scheduled to be played June 1-7.