A client approached us last year. He had retired from an independent-style brokerage firm and sold his book of business to another broker. He had signed a “Continuing commission” agreement with the broker and the firm. He was was supposed […]
Browsing Category "Marc’s Blog"
OnWallStreet reports that UBS is tinkering with its payout structure. This is not good news for employees or investors. First, brokers will be paid a 50% payout on financial plans costing $1,000 or more. Huh? There better be some gold […]
Got a call from 370666149, which is not a real phone number. The person shouting at me at the other end of the phone was “Jerry” or “Gerry” an alleged stockbroker from EJ Sterling, Inc. He talked very fast and […]
I received a call today from Jack Fitzpatrick from Blackbook Securities. Jack told me that he was following up on a conversation we had on September 30 about a particular company. This was a baldfaced lie. He said the company […]
Do you work at Wells Fargo? Do you have an employment agreement and promissory note? Are you (understandably) thinking about changing jobs? Well, then, you may have a problem if Wells Fargo believes you owe money on the note. I […]
In February 2011, FINRA started allowing claimants to choose an all-public panel in securities arbitrations. I thought it was window-dressing. I did not think that the presence or absence of a non-public arbitrator would make a difference. In 2011, FINRA […]