Do you have a retirement account with Empower Retirement and did your Retirement Plan Advisor move your funds into Empower Retirement’s “Managed Account”? 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 Empower Retirement.
What Is The Empower Fraud Lawsuit About?
Empower’s Retirement Plan Advisors allegedly make aggresive 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 Manages 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.
Contact the Financial Fraud Lawyers At Fob James Law Firm
If you have any information about the alleged fraudulent sales practices of Empower Retirement, or if you yourself have moved your assets into a managed account, the fraud lawyers at Fob James Law Firm would like to talk with you. Contact us toll free at 833-684-0503 or fill out the secure form below and an attorney will contact you.