3/17/23: How to Prepare for the Financial Shocks of Widowhood
THE TRUTH ABOUT YOUR FUTURE with Ric Edelman
00:00
The Cost of Overcharging
The SEC requires firms to provide restitution to the clients for overcharging. Getting all of those documents, finding those documents and proving out the math that is very, very expensive. So it's really a cumbersome exercise for the advisor. The best case scenario, they get a slap on the wrist. Of course, they can also be fined. If they've found to be committing fraud, they can be sent to enforcement. It can get very ugly, very quick.
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