Seeking investment guidance in midlife can be tricky, so many people tend to use experts for help. However, so-called “experts” can be more detrimental than advantageous sometimes.
Former Pro Baseball Player Wins $1.7M FINRA Award
According to his attorney, Lloyd Schwed, Mr. Angel Pagan, former outfielder for the New York Mets, Chicago Cubs, and San Francisco Giants from 2006 to 2016, had a four-year $40-million contract with the Giants when he and his wife opened an account in Merrill Lynch’s Puerto Rico office, and claimed they lost about $2 million when the Puerto Rican Bond market collapsed in the fall of 2013. ority Inc.’s BrokerCheck and the Securities & Exchange Commission’s Investment Adviser Public Disclosure sites.
FINRA Pushes Ahead with New "Bad Broker" Rule
Website to Help Investors Recognize "Trusted Advisors"
A new investment website is using regulatory data about financial consultants to go beyond securities regulators’ databases to help investors determine whom to hire. The Investor.com website just issued the “Trust Algorithm,” which is now available for unrestricted use. The tool scrapes background data on financial advisers retrieved from the Financial Industry Regulatory Authority Inc.’s BrokerCheck and the Securities & Exchange Commission’s Investment Adviser Public Disclosure sites.
How Brokers Violate Client Trust
Arbitration for Aggrieved Investors Is Fast -- But Is It Fair?
The arbitration clause can be found in virtually all the account opening documents used by registered broker-dealers. Maybe your financial advisor or stock broker pointed it out to you — maybe not. Chances are extremely good, however, that you signed this clause and are now bound to resolve any disputes through arbitration.
SEC's New Best Interest to Protect Investors from Bad Brokers
The Securities and Exchange Commission (SEC) adopted a rule to protect investors from bad brokers. The “Regulation Best Interest” (or BI) is the SEC’s answer to the Obama administration’s planned “fiduciary rule,” which the Trump administration killed. But will the Best Interest rule really be in the best interest of investors?
Is the Broker "Best-Interest" Rule in Your Best Interest?
Investment advisors and financial advisors are held to different standards of accountability when it comes to the investments they make on behalf of clients. Investment advisors have long been held to what is called the "fiduciary standard." Find out what the difference means for you and your money.