Fidelity Investments Inc. office in Washington, D.C. Credit: JHVEPhoto/Adobe Stock 'Now We're Bleeding': Fidelity Accused of Choosing Profits Over Clients' Interests
Michael Maeker's complaint cites numerous examples of how he was allegedly pressured, and how he resisted upper management's alleged demands that he convince certain wealthy clients to change their position.
May 09, 2024 at 04:32 PM
5 minute read
Whistleblower Laws
What You Need to Know
- A former high-ranking Fidelity Investments financial adviser alleges he was fired for reporting a company policy prioritizing Fidelity profits over clients.
- The whistleblower complaint alleges financial advisers are pressured to violate state and federal regulations.
- The complaint alleges advisers are to steer clients toward investments that best benefit Fidelity regardless of clients' best interests.
A once highly regarded Fidelity Investments financial adviser who alleges he was fired for reporting a company policy prioritizing Fidelity profits over clients' best interests is suing in federal court.
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