Mutual Fund Unsuitability and Breach of Fiduciary Duty – Boca Raton, Florida FINRA Arbitration and Litigation Attorney.
A mutual fund is a fund operated by an investment company that raises money from shareholders and invests in bonds, options, currencies, money market securities, futures, or stocks. Mutual funds are offered by prospectus. The prospectus describes, among other things, the investment objectives of the mutual fund, the types of investments within the fund, the investment strategies utilized by the fund managers and the risks associated therewith.
Mutual funds offer investors the advantages of diversification and professional management. A management fee is charged for these services, typically between 0.5% and 2% of assets per year. Funds also levy other fees such as a 12B-1, exchange fees and other administrative charges. Funds that are sold through brokers are called load funds and those sold to investors directly from the fund companies are called no-load funds. Mutual fund shares are redeemable on demand at net asset value by shareholders.
Please keep in mind that the above information is being provided for informational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal or investment advice. If you have any questions concerning the contents of this post, please contact a qualified professional.
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At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.