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RIA to Pay Nearly $500K for Overcharging Clients
News August 03, 2026 at 01:59 PM
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What You Need To Know
- Papamarkou Wellner Asset Management's fees didn't match what it promised clients, according to the SEC.
- The firm did not deduct from client advisory fees a portion of the compensation its affiliated BD received from six third-party private fund managers.
- Fee testing is compliance officers' responsibility, a consultant says.
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