Wolf Popper LLP Announces an Investigation of Mutual Fund Advisors Who Charge Excessive Fees

NEW YORK, Feb. 1, 2019 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities actions against mutual fund advisors who charge excessive fees.

On January 31, 2019, The Wall Street Journal reported that the U.S. Securities and Exchange Commission is investigating claims against more than 50 investment advisors who have charged their clients excessive mutual fund fees.  According to The Journal, the cases involve ongoing fees, known as 12b-1 charges, which are levied against investor assets and used to reward financial advisors who sell mutual funds.

Similarly, on December 28, 2018, Barron's reported that hundreds of billions of dollars are invested in share classes of index mutual funds that charge fees as high as 2.33%.  Similarly managed index funds, like the Vanguard Total Stock fund, charge fees of just 0.04%. Barron's identified five index funds that charge high fund fees -- Blackrock iShares S&P 500 Index Fund Investor (BSPZX) C-class shares, Invesco S&P 500 Index (SPICX) C-class shares, JPMorgan Equity Index (OEICX) C-class shares, Rydex S&P 500 (RYSYX) C-class shares or Wells Fargo Index (WFINX) C-class shares.

According to Robert C. Finkel, a partner at Wolf Popper LLP, "Securities brokers have a conflict of interest when they put clients into classes of mutual funds that carry higher than ordinary fees.  Brokers should be placing their clients into funds that offer the best financial terms, not the funds that pay brokers the most money."

Investors in the above-identified index funds, or any mutual fund that they believe charges excessive fees, should contact Robert C. Finkel at (212) 759-4600 or (877) 370-7703 or at [email protected].

Wolf Popper has successfully recovered billions of dollars for defrauded investors.  Courts have recognized Wolf Popper's reputation and expertise and have repeatedly appointed the firm to major positions in securities litigation.  See www.wolfpopper.com.

Attorney Advertising: Prior Results Do Not Guarantee A Similar Outcome.

Wolf Popper LLP
Robert C. Finkel
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9620
Tel.: (877) 370-7703
Fax: (877) 370-7704
Email: [email protected]

SOURCE Wolf Popper LLP

Related Links

http://www.wolfpopper.com

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