Posts belonging to Category Charles Schwab
Posted by Page PerryonNovember 10, 2010
“Socialized” or “social” investing is the latest way that some brokerage firms are creating a casino-like atmosphere and catering investors’ worst instincts, according to a Forbes article by Zack O’Malley Greenburg called “Tweets on the Street.” “Social networking is coming to the brokerage business. It’s unlikely to do much to enrich your retirement,” Greenburg writes.
Categories: Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Investment Advisers, Market Developments, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, TD Ameritrade
Posted by Page PerryonSeptember 15, 2010
Charles Schwab’s Total Bond Market Fund is the subject of another class action lawsuit against Schwab, according to a September 12 article by Dan Jamieson of InvestmentNews called “Another lawsuit filed over Schwab bond fund. The lawsuit reportedly alleges that, as of May 31, 2007, Schwab misrepresented the fund to investors as tracking the Lehman […]
Categories: Bonds, Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Investment Advisers, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonAugust 28, 2010
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Raymond James & Associates, Inc. and one of its registered representatives to pay $925,000 to a Texas couple who purchased $1.4 million of municipal auction rate securities issued by Jefferson County, Alabama, according to August 26th articles in InvestmentNews by Bruce Kelly (“Raymond James pays […]
Categories: Auction Rate Securities, Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Oppenheimer, Raymond James, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMay 30, 2010
Liz Ann Sonders, Charles Schwab’s chief investment strategist, is skeptical about bonds and emerging markets and believes that “[i]nvestors are doing what they do well, which is chase past performance,” according to a recent article by Mina Kims posted on CNNMoney.com, “Bond investors are chasing the past.”
Categories: Bonds, Brokerage Firms, Charles Schwab, Investment Advisers, Market Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonApril 2, 2010
Brokerage firms’ advertising portrays brokers as trusted members of the family, writes Tara Siegel Bernard in her New York Times article, “Trusted Adviser or Stock Pusher? Finance Bill May Not Settle It.” Anyone who has tried to hold a broker to a fiduciary standard of conduct, however, hears a very different response: “We are mere […]
Categories: Ameriprise, Bank of America, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Fidelity, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Smart Investing Tools, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonFebruary 15, 2010
Charles Schwab Corp. added a record number of independent investment advisors in 2009 as thousands of brokers left Wall Street firms, like Bank of America, Merrill Lynch, and Morgan Stanley Smith Barney, to launch their own investment advisory firms. See Reuters “Schwab says ‘breakaway broker’ trend has legs,” by Joe Rauch, Jan. 25.
Categories: Bank of America, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Investment Advisers, Merrill Lynch, Morgan Stanley
Posted by Page PerryonJanuary 8, 2010
Independent financial advisers are gaining on Wall Street brokers in the competition to manage more than $5 trillion in Americans’ savings, according to E. S. Browning in his recent Wall Street Journal article, “More Brokers Flee Big Firms, Taking Investors With Them.”
Categories: Brokerage Firms, Charles Schwab, Employment Issues, Fidelity, Investment Advisers, Market Developments
Posted by Page PerryonDecember 16, 2009
A Financial Industry Regulatory Authority (FINRA) arbitrator awarded damages to Mr. Weigel as a result of losses sustained in the Schwab YieldPlus Fund. The panel awarded the Mr. Weigel $19,400 in a claim submitted under FINRA’s special “simplified” procedure for claims of $25,000 or less (exclusive of interest and costs). Mr. Weigel’s actual trading loss […]
Categories: Bonds, Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Investment Advisers, Securities, Securities Class Actions, Securities/Commodities Arbitration
Posted by Page PerryonDecember 16, 2009
Time is running out for Schwab YieldPlus investors to opt out of the class action. A properly completed Request for Exclusion must be received by the class action administrator no later than December 28, 2009. With the holidays, the time to do that is running very short.
Categories: Bonds, Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Investment Advisers, Securities, Securities Class Actions, Securities/Commodities Arbitration
Posted by Page PerryonNovember 17, 2009
A federal court recently certified a class action against Charles Schwab & Company, Inc. brought on behalf of investors in the Schwab YieldPlus Fund. The certification means that the lawsuit can proceed as a class action; no settlement has been reached. Most importantly for YieldPlus investors with significant losses, the deadline to be excluded from […]
Categories: Bonds, Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Securities, Securities Class Actions, Securities/Commodities Arbitration