Tim O'Connor's Blog

Inherited IRA’s Are Now Subject to Claims of Creditors

Do you have an inherited IRA?  Do you know that it may not be exempt from claims of creditors and it may not be subject to the same protections afforded other IRA’s such as regular IRA’s, Roth IRA’s, SEP IRA and rollover IRA’s?  Unfortunately, beneficiaries of inherited IRA’s labor under many similar misapprehensions and misunderstandings […]

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Investment Adviser Charged With Stealing More Than $1,000,000 From Clients

Investment Adviser Accused of Stealing $1,000,000 From Clients In a Press Release of September 6, 2017, the Securities Exchange Commission announced charges against a New Jersey based investment adviser, Scott Newsholme, of Farmingdale, New Jersey, alleging that he stole more than $1,000,000 from advisory clients.  The underlying charges include allegations of fabricated account statements, forged […]

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Inherited IRA’s – Know Your Rights?

IRA’s have been around for over 40 years, but most investors don’t know what happens when they inherit all or part of an IRA account as a death beneficiary.  Taking an outright distribution of cash as a beneficiary of an IRA upon another’s death is usually a foolish idea. While spouses have generous options available […]

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Non-Purpose Loans and Securities Backed Loans (SBL’s) – An Accident Waiting to Happen

Many brokerage firms have been promoting non-purpose loans, resulting in abusive sales practices and supervisory violations associated with the aggressive marketing of these lending arrangements.  Brokerage firms suggesting that investors borrow against their securities to originate non-purpose loans has been at a number of large brokerage firms including Morgan Stanley, UBS, Wells Fargo and Bank […]

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