Please Note: We Are Not Accepting Empower Retirement Cases
Fob James Law Firm is not currently accepting new Empower Retirement managed account claims. As a result, we are not able to review these cases at this time.
If you believe your retirement savings were harmed by conduct like this, speak with a firm that handles investment fraud or retirement plan claims. These claims carry filing deadlines that run whether or not you have a lawyer.
If you have inside knowledge of this conduct, that is a different matter. Undisclosed compensation to plan advisors, or steering clients into higher fee products without disclosure, can be reportable to the SEC, and the SEC Whistleblower Program pays awards for tips that lead to an enforcement action. Tips can be submitted anonymously through counsel. We do handle SEC whistleblower matters.
If you have a different injury claim in Alabama, Georgia, or Tennessee, we would be glad to hear from you. Call (205) 407-6009 or see the cases we handle on our practice areas page.
What Is The Empower Fraud Lawsuit About?
Empower’s Retirement Plan Advisors allegedly make aggressive sales pitches to get clients to transfer their assets into “Managed Accounts” (accounts with higher fees managed by Empower) even if lower cost or better suited investments are available.
On information and belief, Empower fails to disclose to clients that its Advisors receive financial incentives for enrolling clients into Managed Accounts.
Moreover, Empower allegedly fails to disclose that the only investment its Advisors recommend to clients is the higher fee Managed Account. This, despite the fact that Empower and its Advisors owe clients fiduciary duties, including the duty to act in the client’s best interest and disclose conflicts.
Where to Get Help With a Empower Managed Account Claim
As noted at the top of this page, Fob James Law Firm is not accepting Empower managed account cases. If you believe your retirement account was moved into a higher fee product without adequate disclosure, gather your account statements and any advisor communications, and speak with a firm that handles investment fraud or retirement plan claims. Deadlines apply, and they do not pause while you look for counsel.
If you have a different injury claim in Alabama, Georgia, or Tennessee, we would be glad to hear from you. Call (205) 407-6009 or see our practice areas.
We have written about similar allegations in the Vanguard managed account matter.