Erez Law is currently investigating Ron Carson (CRD# 1238219), who is head of Carson Wealth Management, regarding excessive fees.
Carson Wealth Management is one of the most recognizable names in the financial advisory business. The firm is being sued by a former client for $500,000 for charging fees the client claims were excessive. This case involves direct investments and limited partnerships, which are investments that are typically liquid.
Carson was registered with Cetera Advisor Networks LLC in Omaha, Nebraska from January 2017 to January 2019. Previously, Carson was registered with LPL Financial LLC in Omaha, Nebraska from 1989 to 2017.
According to the December 2018 complaint on Carson’s BrokerCheck profile, “CWM, LLC, an investment adviser owned by Ron Carson, a registered representative of Cetera Advisor Networks LLC, has negotiated with certain product sponsors unaffiliated with CWM for such product sponsors to charge lower fees to CWM clients than would otherwise be charged if they were not clients of CWM. The client alleged that CWM improperly notified a product sponsor that the client was no longer a client of CWM, resulting in the client being charged the product sponsor’s standard fees (instead of the lower negotiated rate). As a result, the client claims that it was overcharged fees by the product sponsor. The client also alleges that CWM’s investment advisory fees were excessive.”
Carson has been the subject of three customer complaints between 2002 and 2018, according to his CRD report.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Carson Wealth Management may be liable for investment or other losses suffered by Carson’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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