Migliaccio & Rathod LLP is investigating whether Fidelity Guaranteed Income Direct and similar retirement-income offerings continue charging advisory or platform fees after retirement assets have been converted into guaranteed-income products.
Reported Issues
Participants report concerns that:
- Retirement assets were converted into annuity-based income streams.
- Advisory fees continued after the conversion.
- Fee structures were difficult to understand.
- Ongoing charges reduced retirement income.
- Marketing materials emphasized retirement certainty without adequately disclosing continuing fees.
Why Individuals Should Be Concerned
Potential claims include:
- Excessive fees
- ERISA violations
- Breach of fiduciary duty
- Inadequate fee disclosures
- Consumer-protection violations
- Economic loss
Signs You May Be Affected
- You participated in a Fidelity retirement-income program.
- You purchased or enrolled in Guaranteed Income Direct.
- Advisory or program fees continued after retirement-income payments began.
- You did not understand how post-annuitization fees would be calculated.
- You believe ongoing fees reduced your retirement income.
If you have encountered these issues, we would like to hear from you. Please complete the contact form on this page, send us an email at [email protected], or give us a call at (202) 470-3520.