brokerwatch

Many of the Alliance Bernstein proprietary funds and Eaton Vance proprietary funds offered in each of their employee 401(k) plans have underperformed and impose higher than average fees.  Meaning, Alliance Bernstein and Eaton Vance are potentially costing participants in their 401(k) plans thousands of dollars in lost retirement savings.  By including their own proprietary funds in their employees 401(k) accounts, Alliance Bernstein and Eaton Vance may be in violation of the regulations which forbid such arrangements under the “prohibited transactions” provisions of The Employee Retirement Income Security Act of 1974 (“ERISA”).

Current or Former Employee of Alliance Bernstein with a 401(K)?

If you are currently enrolled or were enrolled in a 401(k) plan with Alliance Bernstein or Eaton Vance, please Contact the Securities Attorney of Peiffer Wolf for a FREE Consultation by filling out a Contact Form or by calling 585-310-5140.

Alliance Bernstein 401k Lawsuit | Eaton Vance 401k Lawsuit

Alliance Bernstein is an asset management firm providing investment management and research services to institutional, high-net-worth and retail investors. Eaton Vance and its affiliates offer individuals and institutions investment products and wealth management services and creation, marketing, and management of investment funds.

Both companies provide investment products to individuals, institutions and financial professionals in the US, including wealth management solutions, defined contribution, investment only and sub-advisory services financial services.  Primarily, they offer mutual funds and other investments to retirement plans and other investors.

These companies offer employees a defined contribution “401k” plan that allows participants to contribute a percentage of their earnings and invest those contributions in one or more investment options offered by the employers’ plans.  Both Eaton Vance and Alliance Bernstein are 401k plan fiduciaries.

As fiduciaries, Eaton Vance and Alliance Bernstein are responsible for supervising, monitoring, and evaluating the performance of their respective 401k plans.

Many of the Alliance Bernstein proprietary funds and Eaton Vance proprietary funds offered in each of their employee 401(k) plans have underperformed and impose higher than average fees.  Meaning, Alliance Bernstein and Eaton Vance are potentially costing participants in their 401(k) plans thousands of dollars in lost retirement savings.  By including their own proprietary funds in their employees 401(k) accounts, Alliance Bernstein and Eaton Vance may be in violation of the regulations which forbid such arrangements under the “prohibited transactions” provisions of The Employee Retirement Income Security Act of 1974 (“ERISA”).