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 […]
Read PostELDER ABUSE: Baby Boomers Protecting Their Elderly Parents’ Investment Accounts
As the parents of many baby boomers are well into their 70s, 80s, and even 90s, many boomers are worried about protecting their parents’ accounts from wrongful trading activity, or even theft. There is a delicate balancing act between respecting one’s parents’ financial independence and their right to make their own decisions regarding their […]
Read PostEducational 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 […]
Read PostMargin 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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