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SEC Hits PNC, Securities America, Geneos with $15M Fine

PNC Investments, Securities America & Geneos Wealth Management agree to pay nearly $15M for failing to disclose conflicts and putting clients into higher-cost mutual fund shares

These firms breached their fiduciary duties to clients & generated “millions of dollars of improper fees in the process”

Investment advisors putting their clients into higher fee share classes when lower cost ones are available is a widespread problem” – Steven Peikin, co-director of the SEC’s Enforcement Division

Click Here to Read More from Think Advisor…

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