Tim O'Connor's Blog

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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Margin Trading is Inappropriate for Most Investors

Our law offices have handled a number of matters involving financial advisors who have convinced inexperienced and unsophisticated investors without any meaningful experience in the financial markets to engage in margin trading in their brokerage accounts.  Margin trading involves borrowing against the existing value of an investor’s account for the purpose of engaging in leveraged […]

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