RIA Hid Fee Hikes From Clients, SEC Says

News September 06, 2024 at 10:57 AM
Share & Print

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.
Fees on wooden blocks