{"id":3927,"date":"2016-11-10T18:00:30","date_gmt":"2016-11-11T00:00:30","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/?p=3927"},"modified":"2022-03-28T11:21:22","modified_gmt":"2022-03-28T16:21:22","slug":"sec-says-triad-advisors-securities-america-advisors-may-charged-clients-mutual-fund-12b-1-fees-even-though-less-costlier-options","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-says-triad-advisors-securities-america-advisors-may-charged-clients-mutual-fund-12b-1-fees-even-though-less-costlier-options\/","title":{"rendered":"SEC Says Triad Advisors and Securities America Advisors May Have Charged Clients For Mutual Fund with 12b-1 Fees Even Though There Were Less Costlier Options"},"content":{"rendered":"<p>According to parent firm\u00a0<span class=\"\">Ladenburg Thalmann Financial Services Inc. (LTS),\u00a0<b class=\"\"><\/b><\/span><span class=\"\">the SEC\u00a0 is scrutinizing Securities America Advisors Inc., which is the registered investment adviser arm of independent broker-deal Securities America Inc., and Triad Advisors Inc., over allegations that the firms sold mutual funds that charged clients yearly marketing fees when there were less costly options available. These marketing fees are referred to as 12b-1 fees. It is paid to advisors yearly for continuing education and service.<\/span><\/p>\n<p>Ladenburg Thalmann&#8217;s disclosed news that its firms were under investigation in its quarterly earnings report. In the report, the firm said that SEC staff gave Securities America Holdings and Triad reports in May and August contending that the two firms had \u201cacted inconsistently\u201d regarding their fiduciary duty when recommending and choosing mutual fund share classes that paid these marketing fees. The SEC pointed out that there had been less costly share classes available in the same funds.<\/p>\n<p>Ladenburg Thalmann said that Securities America Advisors and Triad are looking at the SEC\u2019s assessments and they may have to pay restitution to clients.<br \/>\n <a href=\"https:\/\/www.investorlawyers.com\/blog\/sec-says-triad-advisors-securities-america-advisors-may-charged-clients-mutual-fund-12b-1-fees-even-though-less-costlier-options\/#more-3927\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to parent firm\u00a0Ladenburg Thalmann Financial Services Inc. (LTS),\u00a0the SEC\u00a0 is scrutinizing Securities America Advisors Inc., which is the registered investment adviser arm of independent broker-deal Securities America Inc., and Triad Advisors Inc., over allegations that the firms sold mutual funds that charged clients yearly marketing fees when there were less costly options available. These [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3801,3760,3741],"tags":[3700,3701,2272],"class_list":["post-3927","post","type-post","status-publish","format-standard","hentry","category-sec","category-sec-enforcement","category-securities-fraud","tag-12b-1-fees","tag-ladenburg-thalman","tag-securities-america"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Says Triad Advisors and Securities America Advisors May Have Charged Clients For Mutual Fund with 12b-1 Fees Even Though There Were Less Costlier Options &#8212; Investor Lawyers Blog &#8212; November 10, 2016<\/title>\n<meta name=\"description\" content=\"According to parent firm\u00a0Ladenburg Thalmann Financial Services Inc. (LTS),\u00a0the SEC\u00a0 is scrutinizing Securities America Advisors Inc., which is the &#8212; November 10, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-says-triad-advisors-securities-america-advisors-may-charged-clients-mutual-fund-12b-1-fees-even-though-less-costlier-options\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Says Triad Advisors and Securities America Advisors May Have Charged Clients For Mutual Fund with 12b-1 Fees Even Though There Were Less Costlier Options &#8212; Investor Lawyers Blog &#8212; November 10, 2016\" \/>\n<meta name=\"twitter:description\" content=\"According to parent firm\u00a0Ladenburg Thalmann Financial Services Inc. (LTS),\u00a0the SEC\u00a0 is scrutinizing Securities America Advisors Inc., which is the &#8212; November 10, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Says Triad Advisors and Securities America Advisors May Have Charged Clients For Mutual Fund with 12b-1 Fees Even Though There Were Less Costlier Options &#8212; Investor Lawyers Blog &#8212; November 10, 2016","description":"According to parent firm\u00a0Ladenburg Thalmann Financial Services Inc. (LTS),\u00a0the SEC\u00a0 is scrutinizing Securities America Advisors Inc., which is the &#8212; November 10, 2016","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/sec-says-triad-advisors-securities-america-advisors-may-charged-clients-mutual-fund-12b-1-fees-even-though-less-costlier-options\/","twitter_card":"summary_large_image","twitter_title":"SEC Says Triad Advisors and Securities America Advisors May Have Charged Clients For Mutual Fund with 12b-1 Fees Even Though There Were Less Costlier Options &#8212; Investor Lawyers Blog &#8212; November 10, 2016","twitter_description":"According to parent firm\u00a0Ladenburg Thalmann Financial Services Inc. (LTS),\u00a0the SEC\u00a0 is scrutinizing Securities America Advisors Inc., which is the &#8212; November 10, 2016","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-says-triad-advisors-securities-america-advisors-may-charged-clients-mutual-fund-12b-1-fees-even-though-less-costlier-options\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-says-triad-advisors-securities-america-advisors-may-charged-clients-mutual-fund-12b-1-fees-even-though-less-costlier-options\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"SEC Says Triad Advisors and Securities America Advisors May Have Charged Clients For Mutual Fund with 12b-1 Fees Even Though There Were Less Costlier Options","datePublished":"2016-11-11T00:00:30+00:00","dateModified":"2022-03-28T16:21:22+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-says-triad-advisors-securities-america-advisors-may-charged-clients-mutual-fund-12b-1-fees-even-though-less-costlier-options\/"},"wordCount":384,"keywords":["12b-1 fees","Ladenburg Thalman","Securities America"],"articleSection":["SEC","SEC Enforcement","Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-says-triad-advisors-securities-america-advisors-may-charged-clients-mutual-fund-12b-1-fees-even-though-less-costlier-options\/","url":"https:\/\/www.investorlawyers.com\/blog\/sec-says-triad-advisors-securities-america-advisors-may-charged-clients-mutual-fund-12b-1-fees-even-though-less-costlier-options\/","name":"SEC Says Triad Advisors and Securities America Advisors May Have Charged Clients For Mutual Fund with 12b-1 Fees Even Though There Were Less Costlier Options &#8212; Investor Lawyers Blog &#8212; November 10, 2016","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2016-11-11T00:00:30+00:00","dateModified":"2022-03-28T16:21:22+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"According to parent firm\u00a0Ladenburg Thalmann Financial Services Inc. 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