No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Friday, October 24, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Financial Planning

Vanguard reaches $19.5M SEC settlement

by TheAdviserMagazine
2 months ago
in Financial Planning
Reading Time: 2 mins read
A A
Vanguard reaches .5M SEC settlement
Share on FacebookShare on TwitterShare on LInkedIn



Vanguard Advisers encouraged advisors to enroll customers in personal financial services without properly disclosing employees’ financial interest to do so, the Securities and Exchange Commission said.

The firm agreed to pay $19.5 million to settle the SEC’s allegations without admitting or denying wrongdoing. 

“Vanguard is committed to supporting everyday investors and retirement savers,” the firm said Friday in a statement. “We are pleased to have reached an agreement to put this matter behind us.”

READ MORE:$72M Commonwealth judgment hammers home firms’ disclosure dutiesAdvisory paying $1.4 million for failing to disclose SPAC conflictsMerrill’s $9.5M SEC fine highlights need for advisors to watch basic disclosuresCetera to pay $8.6M as SEC disclosure cases leave lasting impact

From August 2020 through December 2023, the firm incentivized its financial advisors to enroll and retain clients in fee-based services, tying year-end performance goals and bonuses to how advisors kept customers, according to the SEC. The firm didn’t adequately disclose how the advisors were paid, and some disclosures also contained contradictory statements, according to the agency’s cease-and-desist order.

The firm’s website described the advisors as salaried employees who didn’t work on commissions and “no outside incentives, so they’ll always put your interests first.” These statements were removed from the website in 2023, the SEC said.

Empower to pay more than $5.2M over similar allegations

Separately on Friday, two units within the retirement plan recordkeeper Empower agreed to pay a $750,000 penalty and almost $4.5 million in disgorgement and interest to settle allegations that advisors there didn’t fully disclose their compensation to customers saving money in government retirement plans.

The agency said Empower Advisory and Empower Financial Services between July 2019 and December 2022 failed to adequately disclose that their advisors were incentivized by bonuses and raises to enroll customers in fee-based managed account services. This conflict of interest should have been properly flagged, the SEC said. 

“The SEC acknowledged Empower’s significant remediation efforts and substantial cooperation with the SEC staff during the investigation,” Empower spokesperson Stephen Gawlik said in a statement. Gawlik said the SEC also didn’t find that any participants were harmed.

“All of the issues identified by the SEC have been fully remediated,” he said.



Source link

Tags: 19.5MreachesSECsettlementVanguard
ShareTweetShare
Previous Post

2 Dividend Paying Utility Stocks Benefiting from the AI Boom

Next Post

How bad access to credit keeps newcomers from getting ahead

Related Posts

edit post
*HOT* FREE LEGO Harry Potter Flying Car Set after cash back!

*HOT* FREE LEGO Harry Potter Flying Car Set after cash back!

by TheAdviserMagazine
October 24, 2025
0

This LEGO Harry Potter Flying Car Set is so cute! Looking for a fun new LEGO set to build? Top Cash Back is...

edit post
Weekend Reading For Financial Planners (October 25–26)

Weekend Reading For Financial Planners (October 25–26)

by TheAdviserMagazine
October 24, 2025
0

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that...

edit post
Data Blackout Leaves Fed Guessing Ahead of Rate Decision

Data Blackout Leaves Fed Guessing Ahead of Rate Decision

by TheAdviserMagazine
October 24, 2025
0

The Fed is heading into its October meeting in the dark. The government shutdown, now in its fourth week, has...

edit post
How advisors are using AI without explicit SEC guidance

How advisors are using AI without explicit SEC guidance

by TheAdviserMagazine
October 23, 2025
0

Advisors are often put off by new rules and regulations. But when it comes to generative AI and similar technologies,...

edit post
What financial advisors should know about heirs’ property

What financial advisors should know about heirs’ property

by TheAdviserMagazine
October 23, 2025
0

Estate planning for heirs' property could help families preserve and pass down hundreds of billions of dollars in assets, but...

edit post
Are Air Traffic Controllers the Key to Ending the Shutdown?

Are Air Traffic Controllers the Key to Ending the Shutdown?

by TheAdviserMagazine
October 23, 2025
0

Since the start of the government shutdown, thousands of flight delays have bottlenecked travel at major U.S. airports due, in...

Next Post
edit post
How bad access to credit keeps newcomers from getting ahead

How bad access to credit keeps newcomers from getting ahead

edit post
13 of the Best Labor Day Sales in 2025

13 of the Best Labor Day Sales in 2025

  • Trending
  • Comments
  • Latest
edit post
77-year-old popular furniture retailer closes store locations

77-year-old popular furniture retailer closes store locations

October 18, 2025
edit post
Pennsylvania House of Representatives Rejects Update to Child Custody Laws

Pennsylvania House of Representatives Rejects Update to Child Custody Laws

October 7, 2025
edit post
What to Do When a Loved One Dies in North Carolina

What to Do When a Loved One Dies in North Carolina

October 8, 2025
edit post
Probate vs. Non-Probate Assets: What’s the Difference?

Probate vs. Non-Probate Assets: What’s the Difference?

October 17, 2025
edit post
California Attorney Pleads Guilty For Role In 2M Ponzi Scheme

California Attorney Pleads Guilty For Role In $912M Ponzi Scheme

October 15, 2025
edit post
Baby Boomers Are Flocking to This Florida Town — but Not for the Weather

Baby Boomers Are Flocking to This Florida Town — but Not for the Weather

October 9, 2025
edit post
2 of the Best Aldi Finds Available Right Now (While They Last)

2 of the Best Aldi Finds Available Right Now (While They Last)

0
edit post
Bank of England Probes Data Mining Lending Fueling AI Bets

Bank of England Probes Data Mining Lending Fueling AI Bets

0
edit post
Bankrupt Brands: 12 Companies We Can’t Believe Are Still in Business

Bankrupt Brands: 12 Companies We Can’t Believe Are Still in Business

0
edit post
India’s evolving startup funding landscape: Nithin Kamath reflects on VC growth and entrepreneurial momentum

India’s evolving startup funding landscape: Nithin Kamath reflects on VC growth and entrepreneurial momentum

0
edit post
Pentagon orders aircraft carrier to Latin America, boosting U.S. military buildup in the region

Pentagon orders aircraft carrier to Latin America, boosting U.S. military buildup in the region

0
edit post
The Robot Revolution Is No Joke

The Robot Revolution Is No Joke

0
edit post
Bank of England Probes Data Mining Lending Fueling AI Bets

Bank of England Probes Data Mining Lending Fueling AI Bets

October 24, 2025
edit post
Where We Go Next After NY Climate Week

Where We Go Next After NY Climate Week

October 24, 2025
edit post
Pentagon orders aircraft carrier to Latin America, boosting U.S. military buildup in the region

Pentagon orders aircraft carrier to Latin America, boosting U.S. military buildup in the region

October 24, 2025
edit post
Market Talk – October 24, 2025

Market Talk – October 24, 2025

October 24, 2025
edit post
Ontario quickly caves to Trump and promises to pull the offending Reagan ad that killed Canada trade talks

Ontario quickly caves to Trump and promises to pull the offending Reagan ad that killed Canada trade talks

October 24, 2025
edit post
*HOT* FREE LEGO Harry Potter Flying Car Set after cash back!

*HOT* FREE LEGO Harry Potter Flying Car Set after cash back!

October 24, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Bank of England Probes Data Mining Lending Fueling AI Bets
  • Where We Go Next After NY Climate Week
  • Pentagon orders aircraft carrier to Latin America, boosting U.S. military buildup in the region
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.