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How to Tell if Your Financial Adviser Is Overcharging You – The Wall Street Journal

If you work with a financial adviser, now might be a good time to review your advisory agreements and financial statements. Last year, the Securities and Exchange Commission took a closer look at the business practices of registered investment advisers and broker-dealers and didn’t like what it found.

Financial advisers and broker-dealers under SEC supervision go through periodic examinations to ensure that customer disclosures and business practices are in line with the law. If the SEC notices that a large number of firms are making the same error over and over, it will issue an alert.

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