Customer Files $500,000 Suit Against Broker Ron Carson Alleging Excessive Fees

customer-files-suit-against-broker-ron-carsonA former Carson Wealth Management, LLC (CWM) client has brought a $500,000 suit against the firm and its top man, Ron Carson (CRD# 1238219), for allegedly charging excessive fees.

CWM, an investment advisory firm owned by Carson, is a highly reputable name in today’s financial world. Carson’s BrokerCheck record shows a pending customer dispute filed against the firm in December 2018. The customer alleges fees charged to their account were excessive.

The firm negotiated an agreement with certain product sponsors that they would charge lower fees to CWM clients. This allowed product sponsors to charge lower fees to CWM clients than non-CMW clients.

In the complaint, the client alleges CWM inaccurately notified a product sponsor they were no longer a CWM customer. As a result, they were charged the standard fee rather than the negotiated lower rate. The complaint also goes on to claim the firm charged excessive investment advisory fees.

Carson has been in the investment business for 33 years. The broker has been the subject of three complaints between 2002 and 2018. He was with Cetera Advisor Networks, LLC when the alleged problems occurred. He is no longer a current FINRA registered broker.

CONSULT WITH OUR TOP SECURITIES FRAUD LAWYERS TODAY

At Sonn Law Group, our financial advisor negligence lawyers are proud to represent investors nationwide. No matter the specific nature of your case, we are prepared to protect your rights and advocate for your interests. To learn more about your legal options, please do not hesitate to contact our law office today.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. No attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified lawyer.

Rate this post:

1 Star2 Stars3 Stars4 Stars5 Stars
1 votes, average: 5.00 out of 5
Loading...