Bringing Claims Against Waddell & Reed

The New Hampshire Securities Bureau recently brought allegations against Waddell & Reed, an Overland Park, Kansas based securities brokerage firm. The state alleged that at least one firm representative had improperly charged clients financial planning fees. The state also alleged that the firm had certain deficiencies in its supervision of the advisor. The firm was forced to reimburse over $2 million in financial planning fees paid by clients. It also agreed to pay $300,000 for investigation costs, $300,000 in administrative fines and $300,000 to the New Hampshire investor education fund. If you or someone you know invested money with Waddell & Reed, you may be able to recover your losses by calling Stoltmann Law Offices. We may be able to help you bring a claim against Waddell & Reed in the arbitration forum on a contingency fee basis.

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