Monday Money Tip: Beware of financial advisers who are not fiduciaries

Plaintiffs’ lawyers last week noted that nine U.S. brokerage firms – Merrill Lynch, Fidelity Investments, Ameriprise Financial, Wells Fargo, Morgan Stanley, Allstate Financial, UBS, Berthel Fisher, and Charles Schwab – “advertise in public as though they are trusted fiduciaries acting in the best interest of investors and then deny in nonpublic arbitration cases that they have any such duty to avoid conflicted advice.” Read full article on PIABA’s report

Alan Rosca (1168 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


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