In a lawsuit, San Antonio player Tim Duncan is alleging that his former financial advisors, Charles Banks, failed to disclose his own interest in investments that eventually lost $20 million for the superstar. So reports euroweb.com.

Advisor John Carroll, who was formerly a financial advisor at Merrill Lynch, is moving his $130 million practice to an LPL affiliate in large part because of the retirement plan services offered by the firm. So reports Financial Planning. LPL affiliates Financial Partners and Pensionmark Retirement Group provide a high level of services along with technological and operational support, maintains Alexandria, La.-based Carroll.

Read the full article from Financial Planning.  

Failing to disclose conflict of interests when recommending investment products, encouraging clients to use home equity loans to buy annuities, and giving bad tax advice are just a few of the scary tricks that some advisors subject unsuspecting clients to. So reports Forbes.