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Can the folks who market variable annuities and have gotten slammed by regulators for how they line their pockets in the process force the industry that the products to roll back prices and simplify mind-boggling fee schedules? Can they, in fact...
Citizens Financial Group is punishing its brokerage force for targeting elderly bank customers in the sale of its high-risk variable annuities. How? By taking away the things brokers love: Red Sox playoff tickets, limousine trips to Mohegan Sun...
Several recent fiduciary cases have results as unexpected as the ending of an O'Henry short story. A Pennsylvania trustee in a case called Sky Trust1 diversified the assets of a trust out of the trustees' own stock and was surcharged for its...
VANGUARD HAS LONG BEEN A RIVAL to advisors and brokers with its no-load, low-cost, direct-to-investors business strategy. Three decades ago, the firm's straight-talking founder, John Bogle reckoned not only that professional money managers couldn...
The SEC recently charged a pair of pump-and-dumpers whose worst offense might be their poor impersonation of a stockbroker. The defendants in the case faxed handwritten stock tips, ostensibly from a financial advisor to his client (Dr. Mitchel)...
Q: I received customer letters, written after a nasty falling-out, that my firm said would appear on my internal U4, but not my public statement. The clients had a very bad separation from my team. They all wrote the same letter, over two years...
It would seem like a nice problem to have too many clients. Unfortunately many reps have too many of the wrong type of clients. It doesn't have to be this way, of course. We are in the midst of arguably the best affluent client acquisition...
It has long been the case that the heaviest hitters rely mostly on high-net-worth retail clients for their outsized success. But now many advisors are finding what they seek one more link up the food chain in the lower reaches of the institutional...
