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Caveat Venditor

We’re all too familiar with the doctrine of “caveat emptor”, or buyer beware, which places all responsibility for a bad deal on the shoulders of the consumer.  Caveat venditor reverses that responsibility, placing all responsibility upon the seller.  With financial products and services, both are true, as the case below shows.  A quick check with http://brokercheck.finra.org/ …Read More


8 to 10% Is A Reasonable Expected Rate of Return

Reminder:  These Financial Myths Headings are Myths. No.  8-10% is not a reasonable rate of return, even though national investment “superstars” still claim that it is.Here in Oregon, that point has been driven home . . . again, unfortunately, by Aequitas Management.  The article that follows is long but instructive.  (Thank you Advanced Regulatory Compliance, …Read More


Not a Myth: IRS’s Dirty Dozen Tax Scams List Remains Unchanged

It’s that time of year when the fresh sprouts of fraud emerge from your composting private information.  One of the best ways to nip fraud in the bud is to overcome your embarrassment and turn in people who rip you off.  Here is the best place to do that, when it comes to your Federal …Read More


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 …Read More


RELAX, IRS has eliminated Fraud

Wish this was true, but it’s yet another Financial Myth.  You can read the whole article here, or, my abridged version below.http://www.irs.gov/uac/Newsroom/IRS-Warns-Taxpayers-to-Guard-Against-New-Tricks-by-Scam-Artists It’s good to know the 5 things IRS will not do: Angrily demand immediate payment over the phone, nor will the agency call about taxes owed without first having mailed you a bill. Threaten …Read More


Top Financial Frauds for 2014 to avoid in 2015

I wish this were a myth, but there will always be misguided people who prey on the hopes and fears of the gullible, not realizing that with the same or less effort they could make an honest living!  On the State level here are the most pernicious frauds being perpetrated here in Oregon:http://www.doj.state.or.us/releases/pdf/2014_top_ten_complaint_list.pdf The list …Read More