Over the past decade, a tremendous amount of pressure has been laid on the shoulders of the small broker-dealers of the securities industry. Like the iconic Willy Loman in Arthur Miller’s Death of a Salesman, these small and/or independent brokerages are allotted a significantly shorter leash than they have been in years past......More
Times are great. The market is soaring. Stocks are generally doing well. And the woes of 2007 and 2008 are a faded memory. And, of course, all customers are singing the praises of their registered representatives – until the next crises....More
As financial advisors take over more and more of their clients’ needs, the case of best-selling author Patricia Cornwell’s $51 million verdict against Anchin, Block & Anchin presents a cautionary tale....More
In Stewart v. Kono (2012 Westlaw 4427096) we’re reminded of the often delicate balance needed when representing the fiduciary. In this case, John Stewart was trustee of his deceased brother’s living trust and executor of his estate....More
More Demonizing the Banking System?
So, now the government is back at it. Blaming the housing bubble on every institution but itself (too much liquidity and Clinton’s Community Reinvestment Act are to blame.
The scapegoat this week is Wells Fargo in the crosshairs. Here is a snippet from the WSJ:
“The U.S. government filed a civil lawsuit against Wells Fargo & Co., accusing the biggest U.S. mortgage lender of behaving recklessly in issuing federally backed home loans....More
Well, another theif buys the farm. I just don't know what gets into people. Why do people think --- not just in financial services, but in any field --- they can get away with cheating and theiving? Oh, yeah. It's called hubris.
Richard Roth, Esq., of The Roth Law Firm, opines, now that the dust has settled on the controversial decision in Rosenberg, which deemed Form U-5 statements immune from defamation litigation, the New York courts simply got it all wrong....More
As an advisor, you have likely built a business of substantial value. Unlike other businesses, your most valuable asset is the relationship you've built with your clients, which commands time and commitment to ensure a successful transition near the end of your career....More
Over the past 10 years, the financial technology industry has experienced significant advances. Today, financial advisors have access to world-class technologies to run and manage their client portfolios and practices....More