Royal Mutual Fund dealer violates sales practices rule—will pay over $1 millionStuart Kirk, CIM®, Wealth Advisor
After violating the sales practices rule and paying reps higher commissions to sell its proprietary funds, Toronto-based Royal Mutual Funds Inc. has been ordered by the Ontario Securities Commission (OSC) to pay more than $1 million to settle these allegations.
The firm is ordered to pay a $1.1 million administrative penalty and $20,000 in costs. In light of this news, we would like to highlight some important advantages that you the client can enjoy with Precision Wealth Management.
First of all, Precision Wealth Management is an independent firm. The advantage to you the client is:
- we have no propriety product, we simply invest with the best managers we can find on the planet.
Secondly, Precision Wealth Management is a fee for service practice. The advantage to you the client is:
- we are compensated the same regardless of which investment fund manager we recommend to you.
Having zero conflict of interest in our firm is extremely important to us. Below is one of many articles that emphasizes why dealing with an independent firm with no propriety product should be important to you. We are always looking out for your interests.