Why the big broker behind your financial adviser might be working against you

The PIABA report cited ad pitches from nine leading brokerage firms — Merrill Lynch (BAC) , Fidelity Investments, Ameriprise (AMP) , Wells Fargo (WFC) , Morgan Stanley (MS) , Allstate Financial, UBS (UBS) , Berthel Fisher, and Charles Schwab (SCHW) — noting that statements like “It’s time for a financial strategy that puts your needs and priorities front and center” (from a Merrill ad) are at odds with how the firms work when investors file arbitration cases after suffering losses from conflicted advice. Read full article on PIABA’s report

Alan Rosca (1169 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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