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SEC Fines 401(k) Advisor Over 12b-1 Fees

Sunday, Jan 17 2016
Regulatory & Compliance
Written by  PFA News

The Securities and Exchange Commission has fined Everhart Financial Group nearly $240,000 and ordered the advisory firm to appoint a chief compliance officer after the regulator determined that the company was inappropriately recommending funds with 12b-1 fees for retirement plans. So reports ThinkAdvisor.

Everhart uses funds from the Mutual Fund Complex and recommended share classes with 12b-1 fees when it could have used share classes without the fees from the same firm. 

Read the full article from ThinkAdvisor.

 

 

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