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Articles Tagged with Raymond James Financial Services Advisors

Raymond James To Pay $15M for Improper Advisory Fees and Commission Charges

Published on: October 3, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Three Raymond James entities — Raymond James & Associates, Inc., Raymond James Financial Services Advisors, Inc., and Raymond James Financial Services, Inc. (RJF) — have agreed to pay $15M to settle US Securities and Exchange Commission (SEC) charges accusing the brokerage firm of charging excess commissions to customers that invested in certain united investment trusts (UITs) and, also, of improperly charging advisory fees to retail client accounts that were no longer active. As part of the settlement, the Raymond James entities will issue distributions to investors who were affected.

According to the SEC’s cease-and-desist order, from at least 1/2013 through 5/2018, Raymond James & Associates and Raymond James Financial Services Advisors:

Didn’t not perform suitability reviews as promised.

79 Investment Advisers To Give Over $125M Back to Mutual Fund Investors

Published on: March 19, 2019 | by Shepherd Smith Edwards & Kantas, LLP

79 investment advisors have settled charges brought by the US Securities and Exchange Commission (SEC) accusing them of not properly disclosing conflicts of interests involving the sale of costlier mutual fund share classes that caused them to earn more fees.

The regulator’s action is related to its Share Class Section Disclosure Initiative. Announced by the SEC’s Division of Enforcement early last year, the initiative gives firms the chance to report disclosure failures that violate the Advisors Act, while offering them more “favorable settlement terms” in return.

Which Investment Advisors Are Involved in This Case?