RFG Advisory LLC's Julie Knotts filed Chapter 7 bankruptcy in 2016, which was later discharged. Knotts, based in Vestavia Hills, Alabama, disclosed the bankruptcy as part of a financial disclosure. The event occurred during her divorce proceedings when she hired a forensic accountant to investigate her ex-husband’s financial holdings.

Following the investigation, her ex-husband filed for Chapter 7 bankruptcy, leading to Knotts receiving no settlement from his business assets and facing a subsequent lawsuit and a bill for nearly $100,000.