Financial Services
Equity Services, Inc.Find BBB Accredited Businesses in Financial Services.
Information and Alerts
Important Information
Additional Info
BBB's information on National Life Group can be found here: https://www.bbb.org/boston/business-reviews/insurance-companies/national-life-insurance-company-in-montpelier-vt-21247?bluerefx=1
Government Actions
US Securities & Exchange Commission vs. Equity Services, Inc.
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.
Service Area
- 05604
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