[Note: the entertainment segment of this post is at the end for 13-3 = 10 fans. All the usual disclaimers apply. This post is based upon what’s been reported in public but it seems to me that better communication from certain parties could and should have prevented that which happened to Silicon Valley Bank (SVB) […]
Readers note: we seldom publish but when we do, it’s intended for leaders and fiduciaries who take on those responsibilities seriously. And for boards, shareholders, employees, ERISA, Taft-Hartley and public pension plans and participants and beneficiaries thereof, trust beneficiaries and non-profit boards, trustees, volunteers, employees, donors and supporters; customers, account beneficiaries and employees of banks, […]
Taxonomically the sudden surge in demand for toilet paper is likely to bear similar hallmarks to the incipient spike in litigation claims for breach of fiduciary duty. These claims are likely to appear in: partner, business, employment and compensation disputes, family and charitable trust matters, ERISA pension and profit sharing, Taft-Hartley union, or multi-employer plans, […]
Facebook CEO Mark Zuckerberg, was asked during the Senate Hearings on Facebook, Social Media Privacy, Use and Abuse of Data about an unusual term “INFORMATION FIDUCIARY” This is not a one post, wham bang post; it’s such a large global issue, there will be several posts on the topic; the point is to create greater […]
How can you tell? They don’t or won’t talk about much less recommend low-cost passive index funds. And they don’t or won’t talk about or own up to fiduciary responsibility verbally or in writing. They may use esoteric terms (words to impress you, which they often fail to connect to your suitability and or implement) […]
According to the NY Times, “a 36th year went by without another Triple Crown champion, and California Chrome joined 12 other horses who could not get to the finish line first in the Belmont Stakes. Greatness is not prophesied. It is earned here on the racetrack, and feel-good stories are not moved to the front […]
Look up in the sky, is it a bird or a plane, no it’s PE, no not the price earnings ratio, not phys ed, or public engineer nor proper elimination and hardly public enemy, it’s PE as in private equity. In the unending quest for diversification, enhanced yield, more income and risk reduction many investors including the […]
United States Constitution Congress Flag of the United States Federal Reserve Board SEC (Securities Exchange Commission) FASB (Financial Accounting Standards Board) PCAOB (Public Company Accounting Oversight Board) SIPC (Securities Investor Protection Corp.) NASSAA (North American State Securities Administrators Association) NYSE (New York Stock Exchange) FINRA (Financial Industry Regulatory Association, formerly the NASD) MSRB (Municipal […]
Why your brokerage firm, stockbroker and financial planners don’t have sales or do they? The likes of Amazon, Home Shopping Network and Groupon forced sales into every single nook and cranny of American living rooms and businesses (and when after purchasing, Americans ran out of closet, garage and storage space, hustled over to the aptly […]
Trustees have a fiduciary duty and must know(1) the fees, commissions and expenses charged to assets in trust or fiduciary accounts. The new third party compliance FACE Audit™ helps trustees meet their fiduciary duty. The FACE Audit™ is appropriate for trustees who don’t have time or sufficient skills to gather, understand, calculate and evaluate the […]
Would it be TMI (too much information) or perhaps since 2014 is just around the corner, should the dollar amount of fees, expenses and commissions be printed on page 1 of investors’ trust or investment aka brokerage account statements? In 2013 markets reached record highs, however, for trustees, record highs may result in record high […]
ANNUAL REMINDER TO EVERY TRUST AND FIDUCIARY ACCOUNT Letter from Trustee to Financial / Investment Advisor Dear (insert title): Broker / Private banker / Investment adviser / Financial planner / Wealth manager Part of my fiduciary duty, as trustee is to know the amounts paid for your services. When you can, kindly provide the DOLLAR […]
Thanksgiving turkey and trustees – how to sell (and buy) turkey? Selling turkeys When it comes to selling turkey most stores, based upon my informal internet, phone and store visit survey appear to take a straight forward approach. Ralphs and Kroger stores (Kroger owns Ralphs) sells turkey for 59 cents a pound for Jenni- oh […]
Perry Mason, was a late 1950’s and 1960’s hit television show, Raymond Burr played the role of Perry Mason, Esq. We begin in the courtroom. Mr Mason: “Where were you on the morning of August 9, 2003?” The witness: “On the Jersey Shore, (Mr Mason speaks: “go on”) it was a slightly overcast Saturday morning. […]
Attorneys searching for an experienced, qualified expert can contact us by email or by telephone. We have among the longest, deepest and broadest securities and fiduciary experience. Since 2003 provide independent, objective securities, fiduciary, compensation and damages opinions. We have well over 90% success achieving settlement or award. Consulting services We consult on case evaluation, […]
Before 2008 a real, real estate market did not exist. Americans are not dumb, but due to misleading information about the real estate market they made predictably bad mortgage decisions. Banks and only banks control/led leverage in two ways. The first took place during loan origination, requiring a down payment or no down payment; 20% […]
Fiduciary Liability Exposure Checklist Pitfalls for Attorneys, Business Managers and CPAs Providing investment advice to clients whether or not you receive compensation Drawing the line between investment advice and legal, financial or tax advice Serving as trustee to accomodate a client who doesn’t want heirs to know or be involved Recommending any investment, stockbroker, financial […]
In September 2005 S&P (Standard & Poor’s) issued “Who will be left holding the bag?” in what would turn out to be a prescient report about the housing market and mortgage backed securities. Around the same time certain investment banks created a new mortgage related security called a CDO (collateralized debt obligation, some were cash […]
The Uniform Prudent Investor Act was adopted by the Uniform Laws Commission in 1994 and since then has been adopted into law by 43 states, some states already had similar statutes prior to 1994. Trusts are governed by UPIA unless otherwise provided for in the instrument or under applicable law. The Uniform Management of […]
Individual and institutional investors often approach Gold, Silver, Platinum, Palladium or Rare Earth minerals for many of the same reasons and with similar expectations but wind up with vastly different results and sometimes dramatic losses. What happens in the metals markets begins with analyzing major players, margin and information. Some gold investors do not however […]
FINRA arbitration is generally mandatory for investors with losses in individual investment, IRA, pension, trust or institutional prime brokerage accounts. Claims for breach of fiduciary duty, suitability, failure to supervise are frequent. Chris McConnell, AIFA® Fiduciary Expert brings over 30 years over securities experience including hands-on experience, knowledge, securities, life and annuity licensing and fiduciary […]