Financial Suicide

1 reply [Last post]
noriebravo's picture
Joined: 2013-02-23

So, over a six year period of time, a broker manages to turnover nearly $50mm in positions in four different accounts at his employing firm and loses the vast majority of his liquid net worth in the process, $315,000.  Manic day trading gone amok.  Is the firm liable for some of those losses owing to failure to supervise?  Put another way, does the firm's duty to supervise include a duty to protect a broker from recklessly trading himself into financial ruin?

californiawills01's picture
Joined: 2013-02-20

Failing to establish a plan for the future

The young always seem to have more time than money, which is why financially important things like putting aside money for short- and longer-term emergencies -- or feathering a retirement nest egg -- often are never even considered until people approach their golden years. Of course, by then, it's usually much too late. The old bromide really is true: Failing to plan is the same thing as planning to fail.

Please or Register to post comments.

Industry Newsletters
Investment Category Sponsor Links
Practice Management Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×