In the aftermath of a BrokerCheck study that concluded 1 in 13 advisors have tainted histories, Senator Elizabeth Warren (D-Mass.) is asking the Financial Industry Regulatory Authority to disclose plans for curtailing broker misconduct. So reports ThinkAdvisor.
In the most recent Eaton Vance Advisor Top-Of-Mind Index study, more than half of advisors surveyed said their concerns over market volatility have increased in the past 12 months. So reports Yahoo! Finance.
Claus Foerster, of Spartanburg, N.Y., convinced clients to transfer assets from their accounts to his own account to get access to fictitious investments, and he then spent the money for his personal needs, according to a press release from United States Attorney Bill Nettles. So reports WYFF4.com.
Brilliance isn’t essential for successful financial professionals and, if anything, can be a characteristic that makes employees hard to manage, says David Rubenstein, founder of private equity advisor The Carlyle Group. So reports Business Insider.