It's an all too common occurrence on the Street these days: a client sues her rep, the branch office manager and the broker/dealer. Or maybe it's a regulator who launches an investigation involving those same parties. The stakes are high...
The investigation by the various state and federal government agencies into conflicts of interest in Wall Street research has ended with a massive settlement. The firms have agreed to quit nefarious practices like IPO spinning and pony up $1.4...
It's hard to say when the targeting of financial advisors for litigation reached its peak or whether it has even peaked yet. But the trend certainly passed a milestone in October when Money ran a cover story entitled, Should You Sue Your Broker...
Virtual-Office Tools for a High-Margin Practice, David J. Drucker and Joel P. Bruckenstein Are you so buried in paperwork, nettlesome compliance issues or personnel problems that you don't even remember why you got into this business in the first...
When the big Wall Street firms agreed to pay $1.4 billion to end government investigations of their research analysts, Eliot Spitzer, the New York State Attorney General, and the SEC got all the credit. But there was another place at the...
Prudential Securities informed its administrative managers at the beginning of the year that if they were also producing brokers, they were no longer going to be paid commissions, according to sources. The firm confirmed that it instituted the...
You think your clients are asking a lot of you? According to the New York Post, one woman is suing an SSB broker for not providing her with a baby. (Seriously.) The suit alleges he promised to impregnate her if she invested with him, and, like her...
Until a few years ago, if you wanted to put your client into corporate bonds, the only way to do that was to invest in bond funds. The trouble with bond funds is, you don't know what the exact yield is going to be, the coupon payment or the...
The Money Management Institute has added two governors to its Board. Kent Strazza, president and CEO of Franklin Templeton Private Client Group, and Marc Brookman, senior managing director at New York Life Investment Management, were approved to...
