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L.A.'s Capital Group Accused Of Bilking Employees — By Pushing Its Own Mutual Funds

TedTed
in Fund Discussions
FYI: Los Angeles finance giant Capital Group manages dozens of mutual funds, all of them run by human beings who pick individual stocks and bonds to buy or sell.

And the vast majority of the assets of the company’s employee retirement savings plan is invested in those same funds.

Now, a former Capital Group worker is suing the firm, alleging it violated federal retirement savings rules by pushing workers into its own funds rather than offering investments from outside firms that charge lower fees.
Regards,
Ted
http://www.latimes.com/business/la-fi-capital-group-retirement-20170622-story.html

Comments

  • Old_Skeet
    Now, I wonder ... Did the American Funds out perform (or under perform) over time? Seems, this person (the plaintiff) just might be trolling for a large settlement.
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