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Ponzi Schemes, Frauds and Selling Away
How is churning measured?
Churning generally refers to a financial advisor who does trades in a customer's account in…
My broker bought or sold something without talking to me first. Is that allowed?
Brokers are generally not allowed to make a trade in a customer's account without first…
My broker says he has a system that will outperform the market that involves lots of trading. Should I be concerned?
Generally speaking, promises of high returns or high activity or turnover in an account are…
My broker sold me a product and it does not show up on my statement. Is that acceptable?
If an investment doesn't show up in your monthly statement, it certainly raises a red…
Should I avoid free lunch seminars offered by financial planners?
I actually get this question a lot from my clients. It's tough for me to…
Should I be wary of cold calls from people trying to sell me securities or commodities?
Cold calling has been around on Wall Street for decades. While I can't tell you…
The commodities broker says I will have guaranteed profits? Is this legitimate?
Any investor who is being guaranteed profits needs to question how it is that the…
What are the most important parts of account opening documents?
When a stockbroker opens a new account, he must get certain basic information from the…
What investments scams should I look out for?
It's always difficult to know what the future holds. Wall Street has always done better…
What is a brokerage firm pump and dump scheme?
A pump-and-dump scheme is when a brokerage firm takes a house stock or a stock…
What is a Ponzi scheme?
A Ponzi scheme is a type of securities fraud in which a financial adviser or…
What is affinity fraud?
Affinity fraud is a particularly nefarious type of fraud when the con artist earns his…
What is selling away?
Selling away is a defense frequently used by brokerage firms when a financial advisor sells…
