Excessive Fee Litigation

The attorneys at Shepherd, Finkelman, Miller & Shah, LLP (SFMS) are at the cutting edge of excessive fee litigation in the retirement field. Specifically, SFMS has represented and currently is representing a number of plan sponsors and beneficiaries of defined contribution and defined benefit plans in challenging excessive fees imposed upon them by service providers, investment companies and other "advisors," as well as in addressing other fiduciary breaches and related conduct. In such matters, SFMS has been successful in recovering over $500 million in monetary relief, including saved or reduced fees, for its clients.

For a fuller description of our practice regarding excessive fee litigation, contact SFMS at 866-540-5505 to arrange a consultation with one of our experienced employee benefits lawyers or email James E. Miller (jmiller@sfmslaw.com) or Laurie Rubinow (lrubinow@sfmslaw.com).

SFMS has assembled an impressive team of fiduciary consultants (based in the United States and Europe), as well as economists and damages experts, all of whom have substantial experience in such matters, to assist our clients in prosecuting these claims. Many of our experts and fiduciary consultants have experience working for the very service providers and investment companies that charge excessive fees and victimize retirement plans throughout the United States and, for that matter, around the globe. We provide the following services in connection with our excessive fee litigation practice:

  • Evaluation of total plan cost
  • Bench-marking of plan costs in a competitive environment and based upon available alternatives
  • Determination of the value of services versus total plan cost
  • Analysis of active versus passive investment strategies
  • Evaluation of mutual fund share class offerings and associated revenue sharing
  • Review of 12b-1 and Sub-Transfer Agency fees
  • Analysis of wrap fees, separate account fees and other hidden fees
  • Comparison of historical returns and investment risks
  • Evaluation of diversification strategies
  • Review of stable value and target date products
  • Identification of hidden fees and costs
  • Determination of investment objectives and departures from expressed objectives

SFMS has a strong track record in this field and has successfully pursued claims against Hartford Life Insurance, ING Life Insurance and Annuity Company, Mass Mutual Life Insurance Company and Union Life Insurance Company, to name a few. We are currently evaluating claims for a number of fiduciaries and beneficiaries and welcome the opportunity to speak with other beneficiaries/fiduciaries who may have been similarly impacted by excessive or hidden retirement fees.

If you have any questions regarding SFMS's excessive fee and retirement practice, please contact James E. Miller (jmiller@sfmslaw.com) or Laurie Rubinow (lrubinow@sfmslaw.com), or call 866-540-5505.