Month: May 2011

Questions and Checklist Items to Consider Before Entrusting Your Monies to a Registered Investment Advisor

1.  Do they carry liability insurance and fidelity bonding in the event that your account is abused or your funds are embezzled? 2.  What professional certifications does the advisor have?   3.  Does the brokerage firm or clearing firm with whom your advisor domiciles and custodies your account have adequate financial backing in the event […]

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Is Your Registered Investment Advisor Legit?

For the past ten years tens of thousands of stockbrokers have left brokerage firms to become independent registered investment advisors.  So what’s the difference?   Stockbrokers are required to be registered with the Financial Industry Regulatory Authority, a self-regulatory existing under the auspices of the Securities and Exchange Commission.  FINRA maintains a comprehensive set of […]

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Theft of Money and Investments from an Investment Account – What to Do?

What happens when a stockbroker or registered investment advisor steals money or securities from a customer’s account?  Does this happen often?  Unfortunately, the theft of customer monies and investments by stockbrokers and registered investment advisors occurs in less than 1% of all accounts.  When theft does happen, getting your money back may not be easy […]

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Educational Trusts, Family Trusts, and the Prudent Investor Act

Educational Trusts and Family Trusts in New York State are governed by the Prudent Investor Guidelines under §11-2.3 of the Estates, Powers and Trusts law of New York State.  This provision, also known as the Prudent Investor Act, requires that accounts be managed so as to avoid the risk of excessive losses.  Such accounts should […]

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