FINRA

Annuity Salespeople Are All Honest & Competent Because of Special Licensing

I don’t think I have to remind you that this post heading is a MYTH.  What’s astonishing with the case below is not so much the jaw-dropping audacity of the crook but the carelessness of his victims.  Here’s the story, according to an article by Marlene Y. Satter in ThinkAdvisor.  (See my Do’s & Don’ts […]

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All Advisers Are Well-Versed On Distributions From Retirement Plans

Yes this is a myth.  And here’s a case in point from IRA guru Ed Slott’s recent article in Financial Planning magazine.  The Greens were awarded $50,000 by the arbitrator! PRACTICE FINRA Award Goes to Client After Advisor’s Tax Oversight By Ed Slott April 11, 2016 Twitter   LinkedIn   Facebook   Google +   Email

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THE DEVIL IS IN THE DETAILS

This blog heading is colloquially true, especially when it comes to Investment Adviser contracts.  A recent review of compliance violations found- first of all- that 22% of advisers didn’t have contracts with their clients.  A contract isn’t required unless a fee of some kind is collected from or owed by a client.  So if you

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Self Regulatory Organizations Always Police Their Industries Well

Well of course that’s not true.  None of them do, from the FCC to the SEC.  But some do a better job than others.FINRA (the Financial Industry Regulatory Authority) seems to do a fair job considering their financial and political constrictions, as you can see below.  But out of 637,000+ brokers, they only examined 4500.

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