Investment and Securities Blog
Be aware that titles such as “financial adviser,” “financial professional,” “investment professional,” and the like are meaningless when it comes to what duty is owed to you. If your financial adviser is an “investment adviser” or “investment adviser representative,” he or she owes a duty to you and must always act in your best interest.
The Consumer Financial Protection Bureau has issued a report that, since 2013, financial institutions have reported over 180,000 suspicious activities targeting older adults, involving more than $6 billion in losses.
On November 18, 2018, FINRA entered into a settlement with H. Beck, Inc., a brokerage firm headquartered in Rockville, MD, fining the firm $400,000 and requiring the review and revision of its policies and procedures relating to the sale of multi-share class variable annuities. The settlement highlights the complexity of variable annuities in general and the traps lying in wait for the unsuspecting investor.
With the recent volatility in the stock market, investors’ equity portfolios purchased on margin are exposed to the dangers of a margin call.