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Joe Peiffer on Brokers’ Designations of “Retirement Specialist”

Joe Peiffer on Brokers’ Designations of “Retirement Specialist”

Joe Peiffer was recently quoted in an article that appeared in the magazine Financial Planning. The article concerned brokers’ meaningless self-designations as “retirement specialists.”

LPL Financial recently paid a fine of $250,000 in relation to ten of its Massachusetts-based advisers employing the title of “Retirement Income Planning Specialist.” Massachusetts has banned the use of misleading “senior designations.” Commenting on the fine, Joe was quoted in the article as follows:

“It’s not as if the people of Massachusetts are uniquely financially unsophisticated about these designations. It’s just that they had a state regulator who went and did something about it,” says Joe Peiffer, president of the Public Investors Arbitration Bar Association or PIABA.

You can read the entire article here.

If you have been the victim of financial fraud relating to your retirement, please call Peiffer Wolf for a free, no-obligation consultation.