According to the National Financial Capability Study, the majority of Americans — and especially millennials, minorities, and single women — have lost confidence and a feeling of stability when it comes to their personal finances. Remarkably, these feelings have arisen in spite of the fact that the economy has been steadily improving over the same period of time.
How Regulators - And YOU - Can Identify a "High-Risk" Broker
According to FINRA, while there is no airtight definition of a high-risk (yet), the regulatory body deploys a set of criteria to help identify these individuals and ratchet up the oversight on them. However you can use these criteria yourself to evaluate your own or a potential FA for excessively risky behavior.
FINRA Has Its Eye On These Financial Products
Last month, the Financial Industry Regulatory Authority (FINRA) published its Regulatory and Examinations Priorities Letter. While the express purpose of this letter is to advise stock brokers and compliance officers about the focus of the accreditation exams many of them will be taking in 2015, the letter also indirectly puts investors and securities professionals on notice.