NH Accuses ING of Fraud
ING apparently failed to disclose revenue sharing agreements and the state is ticked. They should be, however they should have known not to deal with a company like ING in the first place unless they could dictate the structure of the deal. I find it hard to believe that New Hampshire couldn't find out about these revenue sharing deals - I could have done it in about 15 minutes of work. Simply look at what funds are being utilized - this tells you everything. It appears the fiduciaries where asleep at the wheel allowing ING to dictate what funds to use - as if ING was going to work in New Hampshires best interest....that is laughable.
Scott Dauenhauer, CFP, MSFP