The only time Kansas City Royals first baseman Mike Sweeney led the league in anything, it was in 2000, when he was hit by pitches more times (15) than anyone else.

According to a recent lawsuit, Sweeney also got plunked by his investment counselors —right in the wallet. And now the U.S. Department of Labor is trading on his elevated (if not high) profile to both warn money managers to take care with their clients' dough, and to encourage people to choose thoughtfully when they select someone to whom they will entrust their retirement dollars.

Sweeney made $11 million a year at his peak with the Royals, investing upwards of $7 million with a long-time advisor who moved from Smith Barney to UBS Financial, taking Sweeney's account with him.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.