SEC Office of Investor Education and Advocacy Reviews Mutual Fund Classes

The SEC Office of Investor Education and Advocacy outlined common types of mutual fund classes and emphasized investor consideration of financial position, time horizon and sales charges when choosing a mutual fund class.

Lofchie Comment: Firms should consider reviewing this SEC Bulletin with their retail sales personnel. For firms that discover that their retail sales personnel are selling classes of shares that might not be appropriate, more training may be necessary regarding client suitability profiles.

 

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