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“We believe that many customers of PrimeVest and other broker/dealers were overcharged in the same way as our clients, when they made multiple purchases of mutual fund shares, and did not get the benefit of the breakpoint discount,” said Peter A. Pease, a partner with Berman DeValerio.
“Customers who are making purchases for family members and themselves as part of their estate planning, college funding or distribution of business assets are the most likely to be denied breakpoint discounts because their broker/dealer failed to apply the available and proper rights of accumulation,” he said.