Posts belonging to Category LPL Financial

Is Your Financial Adviser Acting in Your Best Interest?


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 […]

It’s Official – Most Americans Despise Wall Street


According to a recent Bloomberg National Poll, more than 50% of Americans despise Wall Street and favor punishment of the bankers who caused the worst financial crisis since the Great Depression. The majority of poll participants — 56 percent — say big financial companies are more interested in enriching themselves at the expense of ordinary […]

Investor Alert: Main Street Natural Gas Bonds Backed by Lehman Brothers


If you were sold Main Street Natural Gas Bonds that were guaranteed by Lehman Brothers, you are likely to have a compelling claim to recover any losses that you sustained when Lehman Brothers went bankrupt. These bonds were sold to income oriented investors as relatively safe investments. However, the brokerage firms that sold them, in […]

Regulators Investigate Sales of Leveraged and Inverse ETFs


In her recent article in the Wall Street Journal, Eleanor Laise reports that sales of Leveraged and Inverse Exchange Traded Funds (ETFs) have exploded to $32.8 billion as of June 2009, almost tripling the $11 billion held at the start of 2008. The number of such ETFs has increased to 119, an increase of 86%, […]

Wall Street Trade Association Supports Fiduciary Standard


The Securities Industry and Financial Markets Association, an important Wall Street lobbying group, has decided to support the Obama administration’s proposal to hold brokers to the same standard as a fiduciary when they provide investment advice, according to a recent report in The Wall Street Journal. While investors who sue their brokers have long argued, […]

Regulators Require Financial Firms to Provide More Public Disclosure Regarding Customer Complaints


On May 13, 2009, the U.S. Securities and Exchange Commission (“SEC”) approved a rule change that requires brokers to disclose alleged sales practice violations made by a customer against a securities broker in the body of a civil lawsuit or arbitration claim, even if that broker is not named as a defendant or respondent. The […]

AIG Brokers in Turmoil – Advisors Who Jump Ship Should Protect Themselves Legally


Restless registered representatives of AIG Advisor Group are showing signs they may leave in droves to move to other advisors. These departing broker dealers should exercise caution to assure that their interests are legally protected. The advisors from three broker dealers — FSC Securities Corp. of Atlanta, AIG Financial Advisors of Phoenix, and Royal Alliances […]