Financial Planning’s Post

🚨 Breaking News for Financial Advisors 🚨 LPL Financial faces a new lawsuit over low sweep account interest rates, prioritizing company profits over client benefits. This legal issue raises concerns about transparency and client trust. If you’re an advisor at LPL, now might be the time to consider a firm that values both your reputation and your clients' best interests. 🌟 Stay ahead and ensure your clients receive the best service! 🔍💼 #FinancialAdvisor #LPL #ClientFirst #FinancialPlanning #AdvisorLife #Transparency #Trust #FinanceNews Read more: [AdvisorHub](https://lnkd.in/ebddAmGv)

FACEBOOK/LINKEDIN: New lawsuits against LPL and Ameriprise show that the pressure for firms to raise the yields paid on their “sweeps” accounts is far from relenting. Industry analysts say wealth managers that are forced into paying higher rates could have to impose new advisory fees or cut costs to offset revenue losses. #investments #wealthmanagement #litigation https://lnkd.in/g6UMnmZb

🚨 Industry Alert: Merrill Lynch and Financial Advisor Accused of Misappropriation 🚨 In a recent development, Merrill Lynch and their financial advisor, Ariana Olive, find themselves at the center of a serious allegation. A customer dispute filed on March 15, 2024, claims misappropriation of funds involving managed and wrap accounts. 🔍 The law firm Haselkorn & Thibaut is actively investigating these charges, seeking to uncover the extent of these allegations and protecting the interests of investors. This case highlights the critical importance of transparency and ethical practice within financial services. Read the full article for detailed insights: [Haselkorn & Thibaut Investigation](https://lnkd.in/e-BDKytv) As professionals in finance, it's crucial for us to uphold the highest standards to maintain trust and ensure the security of client assets. Let's use this as an opportunity to reflect on our practices and strive for integrity in all our dealings. #Finance #Ethics #Compliance #Investment #FinancialServices #MerrillLynch #LegalNews #InvestmentFraud https://lnkd.in/e-BDKytv

🚨#InvestorAlert 🚨 Moloney Securities Co., Inc. and their former broker, Lorraine Gallette, are currently facing allegations of engaging in unsuitable alternative investments. A concerning report emerged from a customer dispute filed on March 27, 2024, sparking debates among financial community members about the risks associated with investment advice. As investors, staying informed and vigilant is imperative to protecting our investments. Seeking advice from trusted, reputable advisers is more critical than ever. For a deeper insight into the pending allegations, check out the full report from Investment Fraud Lawyers. ➡️ [Read More](https://lnkd.in/eqmzMDM8) 💡 Remember, conducting thorough research and consulting with multiple sources can significantly safeguard your investment decisions. #Finance #InvestmentFraud #Securities #FinancialAdvisory #DueDiligence #InvestSmart #LinkedinFinance Note: The information mentioned involves allegations, and the outcome is subject to further investigation and legal proceedings. Stay tuned for updates. https://lnkd.in/eqmzMDM8

RKS partner Michael Hampson discusses one of the key elements of a fraud claim for defrauded investors seeking recovery of their losses in the Fifth Circuit in today's blog post.

🚨 **New Article Alert: Understanding Breach of Fiduciary Duty Claims** 🚨 In the financial world, trust is a key element that binds investors and financial advisors. However, what happens when this trust is broken? A recent article on Investment Fraud Lawyers titled "When Your Broker Betrays You: Understanding Breach of Fiduciary Duty Claims" dives deep into the legal repercussions when a broker fails to honor their fiduciary duty. This distressing scenario occurs when a financial professional prioritizes personal gains over the best interests of their clients - a fundamental betrayal in any fiduciary relationship. 🔗 [Read the full article here](https://lnkd.in/ev_Stzrc) This piece is crucial for anyone involved in financial investments, whether you're a seasoned investor or just starting out. Understand your rights, recognize the signs of fiduciary duty breach, and learn how to protect your investments effectively. 💡 Remember, being informed is your first line of defense against investment fraud. Let's promote a culture of transparency and responsibility in financial services. #InvestmentFraud #FiduciaryDuty #Finance #Investing #LegalRights #BrokerResponsibility #FinancialLiteracy #InvestmentProtection --- Feel free to share this information in your networks and start a conversation on the importance of fiduciary duty in investment relationships! https://lnkd.in/ev_Stzrc

Small Business Owners Beware, The Corporate Transparency Act is Here! Small business owners, other than sole proprietors, may have new requirements to report their Beneficial Ownership Information (BOI) under the federal Corporate Transparency Act (CTA). The CTA was enacted as part of the 2021 National Defense Authorization Act, and reporting under the act became effective January 1, 2024 for new businesses and for businesses created prior to January 1, 2024 there is a December 31, 2024 deadline to file. The CTA was designed to give law enforcement information on the actual ownership of small businesses to stop or prevent money laundering and terrorist activities. A Reporting Company is required to report BOI for a Beneficial Owner (BO) or Company Applicant (CA) to the Financial Crimes Enforcement Network (FinCEN), a part of the U.S. Treasury Department. The RC is required to report the BOs or CAs personally identifiable information (PII) including the individual’s name, date of birth, residential address, and a copy of the individual’s driver’s license or passport. The PII held by FinCEN is designed to remain confidential from the public! Most small businesses are Reporting Companies unless the business is a sole proprietorship. However, there are 23 exemptions to the reporting requirements for Reporting Companies. Failing to comply with the CTA filing requirements are severe ($500 per day for each day that the violation continues up to a maximum of $10,000.00 ($591.00 per day beginning January 25, 2024)). Similarly, penalties exist for law enforcement if it violates FinCEN disclosure protocols. After the initial reporting under the CTA, any changes to the required information must be made within 30 days following the change. Failure to make changes timely will also result in penalties as described above. For more information about filing requirements under the CTA, you should speak with an attorney who handles CTA matters. Also, FinCEN has a Small Entity Compliance Guide that may be found at https://lnkd.in/gjxW-zRz. My thanks go out to attorney Lisa C. Thompson or Arizona for sharing her expertise regarding the CTA with me and many other consumer bankruptcy attorneys across the nation. #bankruptcyattorney #bankruptcylawyer #lernerandrowelawgroup

https://lnkd.in/dr8gFkjE FINRA Suspends Registered Individuals For Violations Of FINRA Rules August 2024 According to FINRA Disciplinary actions for August 2024, the following individuals were suspended from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules. However, these individuals remain bound by the securities arbitration agreement to arbitrate any disputes between themselves and their former customers: NAME FORMER EMPLOYERS Fanar Almosleh U.S. Bancorp Investments, Inc. Zev Bishop Raymond James Financial Services, Inc. Nicholas Camp Bank of America, N.A. Merrill Lynch, Pierce, Fenner & Smith Incorporated Jessica Cottee Valic Financial Advisors, Inc. Park Avenue Securities LLC Samuel Girgiss Spartan Capital Securities, LLC Worden Capital Management LLC Vanessa Hendrickson NYLife Securities LLC Mariah Nagy J.P. Morgan Securities LLC Zayed Regalado NYLife Securities LLC Jeffery Sanders Woodmen Financial Services, Inc. Daniel Turner Vanguard Marketing Corporation

Explore the sweeping implications of the New York fraud case on Donald Trump's finances: outside oversight, hefty penalties, and borrowing constraints are reshaping his business landscape. #TrumpOrganization #Finance #LegalNews #bankingindustry #money #finance #fintech https://lnkd.in/etEsUyJe

Using a Trust to Safeguard Your Assets: In the current climate of financial uncertainty, with markets and institutions experiencing significant turmoil, the security of personal assets has become a pressing concern for many. Protecting oneself and one’s family from potential financial crises is more crucial than ever. Fortunately, several protective mechanisms are in place for various types of financial assets and institutions. Here’s an […] The post Using a Trust to Safeguard Your Assets appeared first on McGee Law Firm.