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  • Sven September 2017
Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Faith-Based Advisor Censured For Selling Class A Shares To Clergy

TedTed
in Fund Discussions
FYI: A faith-based advisor was censured last week after allegedly recommending expensive mutual fund share classes to its minster clients.

The U.S. Securities and Exchange Commission issued a cease-and-desist order to Colorado Springs, Colo.-based Envoy Advisory in an administrative proceeding on Friday after the firm sold clients A-shares of mutual funds when lower cost institutional share classes were available.
Regards,
Ted
https://www.fa-mag.com/news/sec-censures-faith-based-advisor-for-selling-commissioned-mutual-fund-shares-34607.html?print

Comments

  • Sven
    What is the defendant's argument?

    The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. quote from Gordon Gekko in the movie Wall Street.
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