Do you have a managed retirement account with Vanguard’s Personal Advisor service? If so you may be entitled to compensation.
The fraud attorneys at Fob James Law Firm are currently investigating alleged fraud involving the sales practices of “managed accounts” at Vanguard called “Personal Advisor”.
What Is The Vanguard Fraud Lawsuit About?
On information and belief, certain financial advisors with Vanguard are trained and compensated to pressure clients into transferring their assets into “Personal Advisor” accounts (accounts with higher fees managed by Vanguard) even if lower cost funds are better suited for the clients’ needs.
Vanguard financial advisors allegedly make aggressive sales pitches to clients to move their assets into Personal Advisor accounts while representing to the clients:
- they are non-commissioned,
- 100% objective,
- fiduciaries that act in the best interest of the client, or
- that they receive no compensation from transferring assets to managed accounts.
On information and belief, these financial advisors are in fact compensated or promoted based on the number of clients and assets they transfer into the Personal Advisor accounts.
Contact the Financial Fraud Lawyers At Fob James Law Firm
If you have any information about the alleged fraudulent sales practices of Vanguard, or if you yourself have been pressured into moving your assets into a managed “Personal Advisor” account, the nationwide fraud lawyers at Fob James Law Firm would like to talk with you.
Contact us toll free at 866-837-1010 or fill out the secure form below and an attorney will contact you.