SEC Alleges Investment Adviser Delayed Losses to Earn Incentive Fees

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SEC Alleges Investment Adviser Delayed Losses to Earn Incentive Fees

Postby kreslik.news » Tue May 31, 2016 6:28 am


The Securities and Exchange Commission (SEC) has just announced charges that Hope Advisers Inc, a Tennessee-based investment advisory firm in Nashville, orchestrated elaborate trade allocations in order to charge clients millions of dollars in incentive fees that would have otherwise been waived due to net monthly losses of more than $50 million over a several year period.

Owned by Karen Bruton, Hope Advisers was probably not hoping to receive the charges, which may also require its charity, the Just Hope Foundation, to give back money to clients after it received fees that it wasn’t entitled to.

“We allege that Hope Advisers and Bruton disregarded ... (read more)

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