ACA Insights, a weekly newsletter for investment management legal and compliance professions, ran a story on advisory firms receiving requests from clients to refund unearned advisory fees. Scarinci Hollenbeck partner Paul Lieberman was quoted in the article run for the August 2018 issue. An excerpt of Mr. Lieberman’s comments and a link to the entire newsletter are below.

Excerpt From The ACA Insights Article

“Advisory firm managers are fiduciaries running a business. Financial matters should be carefully monitored in order to prevent financial problems cascading to the point of insolvency. An adviser should not have to make a Hobson’s choice between the client’s interests or a creditor’s,” said Scarinci Hollenbeck partner Paul Lieberman.

– Paul Lieberman ACA Insights, August 13, 2018

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Do you have any questions regarding the legal topic at the center of this article? If so, please feel free to contact Paul A. Lieberman or any one of the Scarinci Hollenbeck attorneys you believe can best answer your inquiry.