Business ProfileforEquity Services, Inc.
Additional business information
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On 9/30/2019 the US Securities & Exchange Commission (US SEC) announced it had reached a settlement agreement with Equity Services, Inc. The business has self-reported its breaches of fiduciary duty and inadequate disclosures to its clients in connection with its mutual fund share class selection practices and the fees it received, when its clients were eligible for the same funds for lower operating costs.
The Order stipulates that, within 30 days of its issuance, the business will evaluate its clients to determine if its clients should be moved to a lower cost mutual fund class, and take other measures of compliance. The business shall shall pay disgorgement of $535,240.67 and prejudgment interest of $51,777.05.
At-a-glance
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Overview
Business Details
- Location of This Business
- 1 National Life Dr, Montpelier, VT 05604-1000
- BBB File Opened:
- 12/31/2000
- Years in Business:
- 56
- Business Started:
- 10/7/1968
- Business Incorporated:
- 10/7/1968
- Type of Entity:
- Corporation
- Number of Employees:
- 1
- Alternate Business Name
- ESI Financial Advisors
- Business Management
- Mr. Chris Maranopolis, President
- Mr. Lance Reihl, President
- Ms. Heather Lyon, Vice President
- Contact Information
Principal
- Mr. Chris Maranopolis, President
- Mr. Lance Reihl, President
Customer Contact
- Mr. Lance Reihl, President
- Ms. Heather Lyon, Vice President
Customer Complaints
0 Customer Complaints
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