Unknown Individuals Impersonating Stansberry Asset Management and Chief Investment Officer Austin Root

WESTLAKE, TX – April 1, 2025 – Stansberry Asset Management (“SAM”) has been made aware of a fraudulent scheme involving unknown individuals impersonating both the firm and its Chief Investment Officer, Austin Root, through the mobile messaging app WhatsApp™.

SAM does not use WhatsApp™ to communicate with clients, promote its services, or provide investment advice. Any messages or outreach claiming to be from SAM or its representatives on this platform are false and should not be trusted.

SAM works with clients through formal, contractual relationships and provides investment advice only to individuals or entities with whom it has a signed agreement. SAM does not offer trial periods, VIP transactions, or charge commissions. Any such claims are inaccurate and misleading.

As a registered investment advisor (RIA), SAM follows strict regulatory requirements and engages with clients only after providing the necessary disclosure documents, including its Form ADV.

Since learning of this impersonation scam, SAM has reported the issue to both securities regulators and Federal law enforcement and has contacted WhatsApp™ to request removal of the fraudulent content, which appears to violate the platform’s Terms of Service.

Anyone who has received suspicious messages claiming to be from SAM or its executives should avoid responding, refrain from sharing any personal or financial information, and report the incident to the appropriate authorities. 

Those with questions or concerns may contact SAM directly at (646) 854-4370.