- 2013
- $894,657
Respondents were a RIA and its principal, and the SEC found that they profited at their clients’ expense by causing them to pay higher-than-necessary broker-dealer transaction charges. Respondent Fry, II’s wife was a registered representative at the broker-dealer, and received credit for 50% of the transaction charges paid by FHC’s advisory clients. The SEC found that she was credited with more than $775,669.09 from inflated transaction charges, and that much of this money found its way back to Fry, II.
