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RIA Hid Fee Hikes From Clients, SEC Says
News September 06, 2024 at 10:57 AM
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What You Need To Know
- The former RIA charged fees that were higher than clients had expressly agreed to pay, the SEC says in a lawsuit.
- The firm failed to timely deliver summaries of material changes and did not generally provide monthly billing statements, the suit says.
- In all, the suit states, these higher fees exceeded $1.36 million.
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