Fiduciary Duty

• Over forty employees woke up one day to find out that their retirement plan—over $3 million total—was gone because the trustees of the plan had trusted an investor who had lost all the money while falsifying investment records. All of the affected employees hired HMH. With the investor already in jail, HMH turned to the trustees of the retirement plan. Ultimately, HMH was able to help reach a settlement with the estates of the trustees and the company to pay back as much of the squandered plan funds as possible.
• When a family patriarch passed away, the family received a final distribution from a life insurance policy. What the family discovered was that several years of premiums had been overpaid. Their wealth management company informed them that those overpayments are forfeited to the insurance company. HMH tried the case, in FINRA arbitration, over a week entirely over Zoom. Approximately two weeks after the arbitration ended, the family won a unanimous victory. The arbitrators ordered the wealth management company to pay four years of premiums back to the family.