Tag Archives: Overcharging Fees

SEC Charges IA Overcharges

On May 28, SEC charged advisor with overcharging client fees. Stephen Anderson defrauded clients due to overcharging advisory fees by $367k. Anderson owned River Source Wealth, a now-defunct investment advisory firm. The fees were based on each customer’s assets under management, as agreed. Allegations Order finds, that during 2015 to 2016, Anderson overcharged most of…
Read more