Alliance Bernstein & Eaton Vance 401k Performance and Fee Investigation
Peiffer Wolf Carr & Kane is investigating Alliance Bernstein and Eaton Vance employee 401(k) accounts. Our initial investigation has uncovered that Alliance Bernstein and Eaton Vance have inserted substantial amounts of their own proprietary funds, allowing both of these companies to earn fees from their employees’ retirement savings. We believe that these actions were aimed at benefiting themselves to the detriment of their customers.
Many of the Alliance Bernstein proprietary funds and Eaton Vance proprietary funds offered in each of their employee 401(k) plans have underperformed and impose higher than average fees. Meaning, Alliance Bernstein and Eaton Vance are potentially costing participants in their 401(k) plans thousands of dollars in lost retirement savings. By including their own proprietary funds in their employees 401(k) accounts, Alliance Bernstein and Eaton Vance may be in violation of the regulations which forbid such arrangements under the “prohibited transactions” provisions of The Employee Retirement Income Security Act of 1974 (“ERISA”).
Current or Former Employee of Alliance Bernstein with a 401(K)?
If you are currently enrolled or were enrolled in a 401(k) plan with Alliance Bernstein or Eaton Vance, please Contact the Securities Attorney of Peiffer Wolf Carr & Kane for a FREE Consultation by filling out a Contact Form or by calling 504-523-2434.
FREE CONSULTATION | 504-523-2434
Peiffer Wolf Carr & Kane is currently investigating claims for current and prior employees of Alliance Bernstein and Eaton Vance that are or have been enrolled in the employee 401k plan. Contact Us Today by calling 504-523-2434 or by filling out an online Contact Form for a FREE Consultation. Concerns about possible misconduct and fraud are serious, and we are committed to fighting on your behalf.
Alliance Bernstein 401k Lawsuit | Eaton Vance 401k Lawsuit
Alliance Bernstein is an asset management firm providing investment management and research services to institutional, high-net-worth and retail investors. Eaton Vance and its affiliates offer individuals and institutions investment products and wealth management services and creation, marketing, and management of investment funds.
Both companies provide investment products to individuals, institutions and financial professionals in the US, including wealth management solutions, defined contribution, investment only and sub-advisory services financial services. Primarily, they offer mutual funds and other investments to retirement plans and other investors.
These companies offer employees a defined contribution “401k” plan that allows participants to contribute a percentage of their earnings and invest those contributions in one or more investment options offered by the employers’ plans. Both Eaton Vance and Alliance Bernstein are 401k plan fiduciaries.
As fiduciaries, Eaton Vance and Alliance Bernstein are responsible for supervising, monitoring, and evaluating the performance of their respective 401k plans.
Many of the Alliance Bernstein proprietary funds and Eaton Vance proprietary funds offered in each of their employee 401(k) plans have underperformed and impose higher than average fees. Meaning, Alliance Bernstein and Eaton Vance are potentially costing participants in their 401(k) plans thousands of dollars in lost retirement savings. By including their own proprietary funds in their employees 401(k) accounts, Alliance Bernstein and Eaton Vance may be in violation of the regulations which forbid such arrangements under the “prohibited transactions” provisions of The Employee Retirement Income Security Act of 1974 (“ERISA”).
FREE CONSULTATION | 504-523-2434
Peiffer Wolf Carr & Kane is currently investigating claims for current and prior employees of Alliance Bernstein and Eaton Vance that are or have been enrolled in the employee 401k plan. Contact Us Today by calling 504-523-2434 or by filling out an online Contact Form for a FREE Consultation. Concerns about possible misconduct and fraud are serious, and we are committed to fighting on your behalf.
Yes. Please call us or use our contact form to request a Free Case Evaluation. We have a national team of attorneys and staff who look forward to speaking with you.
Typically, we represent clients on contingency fee agreements. If we take your case under a contingency fee arrangement, you won’t owe our firm any legal fees unless we are able to recover money for you.
Our contingency fee agreements are usually based on a percentage of the amount we recover for our clients. The contingency fee amount is determined by the type of case, our estimate of how long it will take to resolve your case, and our estimate of the litigation costs we will advance in your case. Each engagement agreement includes the details of the fee arrangement. Questions about our fee agreements are welcomed and encouraged.
In most litigation matters, it is extremely difficult – practically impossible – to predict how long it will take to resolve a particular case. Every case is different, and we will do our best to provide you with an estimate based on your case and our experience with similar cases. Moreover, we will do our best to keep you updated and manage expectations along the way.
We handle cases that change lives. Contact us today for a FREE consultation.
