When Mike DiGirolamo, former head compliance officer at Raymond James Financial, was first contacted by the NASD about how the firm determined whether fee-based or commission-based accounts were appropriate for customers, he was surprised. That...
Things went from bad to worse for Greg Kinkead, a 10-year veteran advisor based in Las Vegas. In 2002, several months after switching wirehouses, Kinkead received five complaints on his previously spotless U4 form. None of the claims specified...
Q: My firm encouraged in a documentable way the conversion of A-share mutual funds into a new class that could be held in wrap accounts (and be charged the wrap fee). It is now asking for written reasons from advisors as to why certain low...