The U.S. Department of Labor on Tuesday said it has finalized a fiduciary rule governing retirement accounts that will close loopholes and widen the swath of financial advisors who must put their clients interests ahead of commissions or face penalties and restitution. The final rule, which...
When you walk into a financial adviser’s office, you expect them to put your best interests above all else — in the same way a doctor would, rather than, say, a car salesman. But many people don’t realize that the rules financial professionals must follow...
Some financial advisors did not get a lot of love from the White House bully pulpit on Tuesday when President Joe Biden rolled out the Department of Labor’s newly proposed fiduciary rule governing retirement accounts. The proposed rule would “close loopholes” and impose a requirement that...
Many investors are facing investment losses and tax penalties due to the bad advice to invest in a Conservation Easement. However, Financial Advisors have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their clients. If you are currently being...
“Following last month’s report by the SEC to the House Appropriations Committee on private arbitration (and the use of forced arbitration clauses) in the RIA industry, investor advocates vow that if the commission won’t mandate more industry transparency, they’ll push Congress to step in. “I realize there’s all...
“A trade group representing plaintiffs’ lawyers on Tuesday called for the Securities and Exchange Commission to end a “broken” arbitration system for investors bringing claims against registered investment advisors and to force RIAs to be more transparent about customer complaints. The Public Investors Advocate Bar Association...
Real estate crowdfunding platform CrowdStreet is coming under fire after tens of millions of investor dollars allegedly went missing from accounts connected to Nightingale Properties. The dramatic disclosure, made last week by a fiduciary for the retail investors, related to two Nightingale deals in Atlanta and...
The Securities and Exchange Commission has no way to track the number of registered investment advisor arbitrations or unpaid arbitration awards, according to a just-released report. Last year, the House Appropriations Committee expressed concerns about the proliferation of mandatory arbitration clauses among SEC-registered investment advisors and...
SALT LAKE CITY, UTAH- Antiguos clientes de Wealth Navigation Advisors (WNA) d/b/a Oak Lane Advisors, con sede en Centerville, Utah, presentaron una demanda contra la firma de asesoría por más de $ 850,000 perdidos en un esquema Ponzi dirigido por uno de los exasesores de...
SALT LAKE CITY — Mark Fox says he met Stephen Romney Swensen 25 years ago when the two had adjacent hangars at the Ogden-Hinckley Airport. The two became friends, and Fox learned that Swensen was also a financial adviser. For 20 years, Fox had no reason...
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