Please Note: We Are Not Accepting Vanguard Cases
Fob James Law Firm is not currently accepting new Vanguard 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 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.
Where to Get Help With a Vanguard Managed Account Claim
As noted at the top of this page, Fob James Law Firm is not accepting Vanguard 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 Empower Retirement managed account matter.