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While self-directed IRAs can be a safe way to invest retirement funds,
investors should be mindful of potential fraudulent schemes when considering
a self-directed IRA.
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While most financial advisors are reliable and trustworthy people, some
unscrupulous brokers use their position of trust to take advantage of
their customers by stealing customers’ money.
Sometimes a stockbroker - or even someone simply posing as a stockbroker
- will cold call potential investors and attempt to sell them the “next
hot stock.” As tempting as these offers may be, they often come
with hidden risks.
During the rise in oil prices, your broker may have misguided you into
investing in this one sector. You may see a decline in value with the
oil downturn. Find out what you can do.
[Read More + ]
Some brokers and investment advisers recommend annuities solely because
they will get a perk or kickback for doing so.
If your investment advisor or broker is asking you to send a check directly
to them or a company they control, don't! This could be a sign of investment fraud.
Anyone who believes they may have a claim against a stockbroker or brokerage
firm should contact an experienced stockbroker fraud attorney.
If the SEC has temporarily suspended a company from trading, it usually
means that there is potential fraud or misconduct that could affect investors.
Structured products are becoming more popular, so if your broker has been
suggesting that you buy into one, make sure that they fully explain it
to you before you invest.
Prior investor complaints, history of litigation, pressure to invest, and
a lack of consistent audits are all potential indicators of
hedge fund fraud.
An EIA is a contract between an insurance company and an investor. The
returns that the investor receives are based on something called an equity index.
The same investment can be suitable for one person and
unsuitable for another. Your adviser's job is to recommend investments that suit
your current needs.
Brokers who ask their clients to write personal checks to them raise some
serious red flags. Although there are always exceptions, as a rule, this
is something we would recommend against.
Some types of misconduct are difficult to notice. Pay attention to your
account statements and look for things like unauthorized transactions, an overall decline,
and big jumps after you recommended low risk to your broker.
The two are similar, but not 100% the same. Neither are traded on public
exchanges, but they are subject to different levels of regulatory oversight.
Every state has different requirements for investment advisers, but there
is no overarching law regarding credentials.
Annuities have both advantages and disadvantages, like most investments.
One drawback is that annuities have high yearly expenses that can affect your ROI.
We recommend never trusting someone solely because of their title. While
this may be a legitimate designation at some firms, it may not mean anything
Every investment carries some degree of risk, bond funds included. A common
myth is that bond funds are completely safe, but this is not the case.
Because reverse convertibles are relatively high risk investments, there
are certain steps you can take to shield yourself from loss.
Unfortunately, yes. Investment fraudsters typically prey on the elderly
because they are generally more susceptible to scams and have more money to steal.
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Investment Misconduct Blog
Meyer Wilson is proud to announce that founding partner David P. Meyer was named once again to the list of The Best Lawyers in America © in 2018 for both Professional ...
Fraudsters use a wide array of tactics in their hunt for a new mark, and the Securities and Exchange Commission (SEC) recently started cracking down on a new method, posting ...
John Nelson Crook is a stockbroker with a history of customer complaints against him. He has been accused of misrepresentation, engaging in excessive and unauthorized trading, ...