People usually invest their money to either grow or preserve their capital. No matter what investment vehicle someone chooses to employ, the investor does not want to end up scammed. Unfortunately, cases exist of investors in Pennsylvania falling victim to scams....
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Firm News
Were you overcharged for your 529 plan?
Customers have received $2.7 million in restitution following the recommendations of the Federal Industry Regulatory Authority’s Notice 19-04 released in January. The money came from self-reported lack of supervisory oversight when customers purchased a 529 plan....
Protecting seniors’ assets
According to the Financial Industry Regulatory Authority, some brokers have been preying on their elderly clients. About 5% of elderly clients who are mentally competent say that they have fallen prey to their brokers. The federal authority thinks the number is closer...
What are supervisory challenges brokerages face under FINRA?
Under Rule 3120, the Financial Industry Regulatory Authority (FINRA) requires brokerages to prove that they are adequately supervising accounts. Almost 33% of all fines levied by FINRA are against Pennsylvania firms, and others across the country are for not providing...
How to tell if you’re in a Ponzi scheme
Ponzi schemes in Pennsylvania tend to prey on people who want to make a lot of money in a short amount of time. At the beginning of the scam, it might seem like you're getting a good return on your investment. But when the scheme inevitably falls apart, you'll likely...
What are common investment fraud schemes, according to FINRA?
Pennsylvanians who are investing their hard-earned money and trusting their future to advisers and firms have the right to expect aboveboard behavior and for the law to be followed. Unfortunately, there are many acts of fraud that engulf even the most vigilant...
Pennsylvania man defrauded investors for more than $2 million
As the saying goes, “if it sounds too good to be true, it usually is.” While it is hard to pass up a great deal, the reality is that some of these good deals are far from just that. When it comes to making an investment, this could result in serious detriments for...
Points to consider when selecting a broker
When you start investing in the stock market, you will want to retain a broker. Regular brokers interact directly with you, while broker-resellers act as intermediates between you and a larger broker. In either case, there are some points to consider when choosing a...
Understanding ERISA Regulations
Many workers in Pennsylvania are familiar with ERISA laws protecting employees who work for companies that provide perks like retirement plans, health insurance and pensions. The Employee Retirement Security Act and includes the laws that set minimum standards for...
What is ERISA and how does it protect workers?
The Employee Retirement Income Security Act (ERISA) is an important protection for workers’ retirement and pensions. For that reason, workers should be familiar with how ERISA works. How can ERISA help protect a worker’s pension or retirement? ERISA provides insurance...
