Most Americans participate in employer-sponsored retirement plans such as 401(k) and 403(b) and others as a way to live well once they reach retirement. In fact, 401(k) retirement plans are the most popular and the primary retirement source for many Americans even beyond Social Security benefits. When these plans are squandered through negligence or mismanagement, a lifetime’s worth of savings can be diminished or lost.
In retirement fund loss cases, employees may be able to recover those funds through arbitration or litigation. As a law firm that concentrates much of its practice on securities and investment fraud, the 401 (K) mismanagement attorneys at Levin Law are poised to offer focused and strong legal representation in these cases. Our Miami retirement savings mismanagement lawyers have a distinguished reputation for financial recovery for victims of fraud and misconduct. Our clients rely on our extensive knowledge, legal skills, and dedication in fighting for the justice they seek.
How 401(K) Retirement Savings Plans Can Be Mismanaged
Retirement savings plan mismanagement can include excessive fees charged to employee plans which severely reduce investors’ accounts. This can occur through neglect on the part of plan administrators. These fees can be administrative fees, advisor fees, or investment fees costing plan participants thousands of dollars.
Finally, mismanagement can fall under the category of “self-dealing,” which involves the plan’s administrators engaging in investment vehicles or strategies that will make profits for the company as opposed to working in the best interests of plan participants.
Where brokers and other financial advisors are in charge of investing retirement savings, they may engage in many forms of misconduct. These types of damaging activities can include:
- Making unsuitable investments
- Churning, which involves excessive trading to generate commissions
- Omitting critical information about an investment vehicle
- Misrepresenting information about an investment product
- Overconcentration or lack of diversification in asset allocation
- Charging exorbitant fees
Millions of Dollars Recovered for Investors
Your first step in rectifying your financial loss is to contact Levin Law to determine your losses and what can be done to restore your funds. The attorneys at our law firm are standing by to assist you with highly-qualified legal representation. We urge you to let us use our knowledge and skills on your behalf.
Levin Law represents clients from offices in Miami and Detroit, as well as nationwide. Our clients rely on our experience to help them recover investment losses in securities arbitration and litigation, our knowledge of securities laws, and the fact that our retirement savings mismanagement lawyers have recovered tens of millions of dollars for investors throughout the world.
Contact an Experienced and Knowledgeable Securities Attorney
Contact Levin Law to find out how we can help you recover funds lost as the result of mismanagement of your 401(k), 403(b), and other retirement savings plans. We look forward to speaking with you to determine your options through a free case evaluation.
Contact a Miami 401(k) mismanagement attorney at (305) 402-9050 today. We look forward to speaking with you to determine your options through a free case evaluation.
