bad brokers

How to Sniff Out a Crooked Investment Scheme

How to Sniff Out a Crooked Investment Scheme

An investor gets introduced by mutual friends to a financial professional who almost immediately begins pitching the investor on an amazing opportunity. Because the investment professional seems like a good guy or gal, and because he or she was introduced by someone the investor already knows and trusts, the investor unconsciously transfers that sense of trust to the broker or hedge fund manager or mutual fund whiz. The investor’s guard is already down. What happens next?

How to Tell If A Potential Broker Is Good or Bad

How to Tell If A Potential Broker Is Good or Bad

One big reason brokerage firms severing ties with a particular broker is that investors tend to be loyal to brokers over brokerage firms. In defaming departing brokers, brokerage firms may be trying to pry departing customers away from their financial advisors in order to keep them for themselves.

How Regulators - And YOU - Can Identify a "High-Risk" Broker

How Regulators - And YOU - Can Identify a "High-Risk" Broker

According to FINRA, while there is no airtight definition of a high-risk (yet), the regulatory body deploys a set of criteria to help identify these individuals and ratchet up the oversight on them. However you can use these criteria yourself to evaluate your own or a potential FA for excessively risky behavior.

Former Aegis Capital & Cumberland Broker Malcolm Segal Banned From FINRA

Former Aegis Capital & Cumberland Broker Malcolm Segal Banned From FINRA

According to a recent FINRA disciplinary action report, former Aegis Capital Corp. broker Malcolm Segal has been permanently barred from FINRA for allegedly transferring client money from their investment accounts to an outside business account under Mr. Segal’s control.