Wells Fargo Under Investigation for Abuse of Customer 401(k) Accounts
Wells Fargo has disclosed a federal investigation into sales practice violations in customer 401(k)s after a whistleblower cited sales problems in customer accounts.
Multiple potential violations are disclosed including improper referrals, excessive fees and undisclosed conflicts of interest. In the current bull market, many investors did not appreciate the fees being charged as their accounts were profitable and fees can be difficult to calculate.
Silver Law Group represents institutional and retail investors in claims for portfolio mismanagement, stockbroker misconduct and investment fraud. If you believe your portfolio was mismanaged, excessively traded or your financial advisor purchased esoteric or high cost alternative investments, call us to discuss your legal rights toll-free (800) 975-4345 or e-mail at SSilver@silverlaw.com.