Excessive Fee Liability Claims Explained

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When someone is in the state or act of being responsible for something, they are considered legally liable. When this individual is your financial planner, you may encounter cases of excessive fee liability should they renege on their fiduciary duties.

What Is the Basis of These Litigation Cases?

There are usually allegations of exaggerated rates being charged by the fiduciaries of your retirement account. This action generally occurs within employer-sponsored plans. Some of these rates are easy to understand from the inception of the contract, while others crop up and go largely undetected during the fiduciary management of the accounts.

What Should You Do If You Are a Victim of Excessive Fee Liability?

Understanding your accounts is your best defense against any problems arising. However, even the most diligent investor can miss problems when their plan service providers are being willfully negligent. 

It is important to note the process for keeping records and tracking expenses within your investment accounts. If there is anything less than complete transparency, it is time to take action and seek legal counsel.

When you work hard to save money for your future, you want to ensure that it is working for you and not for someone else. 

Categories: Insurance
This post was written by , posted on August 18, 2022 Thursday at 6:15 am