The SEC recently announced an enforcement initiative that will target retail investor harm. The agency’s task force will use data analytics to find widespread problems regarding fee disclosures and unsuitable
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Brokers Have To Be Reminded To Avoid Using Personal Emails and Texts
Despite numerous warnings, some people just do not get it. The SEC barred a broker from the industry because the broker used personal email and text messages to obtain client
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So You Want To Change Firms
One certainty in the brokerage world is that registered representatives often switch from one member firm to another. There is nothing wrong with the switch, but there is a
What Should You Take Away From The SEC’s Investor Bulletin
The SEC recently published its latest investor bulletin. The SEC publishes these from time to time to bring awareness to the investing public on certain issues.
The current bulletin notes
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Don’t Argue; The Client Is Always Right Even When They Are Not
Over the years that I have defended broker-dealers and investment advisors on customer-initiated claims, I have seen many things that would make any compliance officer cringe. One spine tingling (not
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What to do about a stupid client
Anyone in a professional service business, like being a stock broker, have been faced with a client who decides to make a stupid decision. But the issue we all face
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Why Face-to-Face Meetings Are Necessary for Proper Supervision
In this day and age of instant information and overstretched supervisory personnel, you have to be careful to avoid forgoing a very useful supervisory tool. Meeting face to face with
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Why stupid clients should not ruin your business model
Unlike lawyers, especially litigators, the business model of a financial advisor is not dependent upon clients being stupid. Instead, financial advisors depend on their clients making smart decisions after full
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It’s All In The Documentation
In the near 20 years that I have been defending financial advisors against claims, many of which brought by seniors, the biggest issue that I have seen is the failure
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Don’t Forget This Data Security Risk
In a recent SEC enforcement action, a registered representative was suspended for 6 months and fined $75,000 for, among other things, forwarding confidential client information from his personal email to
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