My first encounter with David Lerner Associates came in July 2011. That month I spoke with a pleasant woman who had invested heavily with a David Lerner Associates broker in an Apple REIT (real estate investment trust). She was calling for advice on whether she accept their offer to buy back her REIT investment. “At […]
FINRA Attacks New Type Of Securities Fraud
Securities fraud costs investors billions of dollars annually. Sometimes the promoter is the fraudster (think Bernie Madoff) and other times it is the stockbroker trying to make a quick buck. This week the Financial Industry Regulatory Authority – FINRA – levied a whopping $7.5 million fine against LPL securities for email violations. Email violations? Thats […]
Unauthorized Trading – A Serious Problem
by Brian Mahany No matter how many rules and regulations, securities fraud remains a big problem. Most cases involve unsuitable investment recommendations but unauthorized trades are a close second. An unauthorized trade occurs when a stockbroker or investment adviser purchases or sells a security in your account without your permission. Because investment advisers do not […]
Lose Money in an “Leveraged Exchange Traded Fund”? (Leveraged ETFs)
In recent years many investors have flocked to Exchange Traded Funds’ or ETF. Along came Leveraged ETFs and dramatically increased the risks for investors.Leveraged ETFs are bundles of derivatives. These derivatives are not stand-alone assets such as an ounce of gold. Derivatives includes options, swaps, foreign exchange instruments, and some really exotic instruments. The more […]