Market Insights: Markets

Now All Investors, Pre-Retirees and Retirees, Unfortunately, Will Be Taken to the Proverbial Woodshed by So-Called Advisors

  • 5th Circuit Issues Order to Kill DOL Fiduciary Rule

  • Is your wealth safe? CLICK HERE to learn more!

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Merrill Hit With $15M SEC Penalty Over RMBS Infractions

  • Merrill Lynch agreed to pay SEC $15+ million to settle charges that employees misled customers into overpaying for securities

  • Merrill’s RMBS traders and salespeople “illegally profited from excessive, undisclosed commissions — called ‘markups’ — which in some cases were more than twice the amount the customers should have paid” – SEC

  • Merrill also failed to have compliance and surveillance procedures in place that were reasonably designed to prevent and detect the misconduct that increased the firm’s profits 

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Watch Out for These 4 Behaviors by Your Financial Professional

  • Asking for a Personal Loan

  • Sales of Promissory Notes

  • Using Personal Email

  • Asking You to Write a Check to a Person or Entity Other than the Firm

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FINRA fines Fifth Third Securities $4M for variable-annuity violations & must pay $2M in restitution to customers

  • The Firm "fail[ed] to appropriately consider and accurately describe the costs and benefits of variable annuity exchanges," FINRA said in a release.

  • Fifth Third Securities also recommended variable annuity exchanges without a reasonable basis to believe the exchanges were suitable & must pay $2 million

  • FINRA found that brokers and principals were inadequately trained in how to compare material features of variable annuities resulting in the firm misstating the costs and benefits of exchanges, making the exchange appear more beneficial to the customer

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The Flatter U.S. Yield Curve is Roiling Mom & Pop Investors

  • Structured debt products with initially high yields are now returning little or no income as well as capital losses

  • “They were sold as being conservative investments, which of course they are not” – Jeffrey Pederson, Denver attorney who represents investors in settlements against financial institutions

  • If the curve levels out – as it has been over the past year – buyers can be stuck with measly coupons or even no interest payments

  • “Your average person getting these things is Joe Salesman, and they end up losing a lot of money pretty quickly” if the curve flattens – Pederson

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LPL Financial Fined $26M over Unregistered Securities Sales

  • LPL offered and sold unregistered, nonexempt securities

  • LPL failed to reasonably supervise the flow of information to ensure full & proper compliance with state securities registration requirements

  • Deal between LPL & state securities regulators requires LPL to repurchase securities from investors with interest & pay up to $26M

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Market Update

“You work hard for your money. We’ll work hard to protect it.”

Market Direction Is Important –

Updated Chart of the S&P 500 and Secondary Signals

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Market Update

“You work hard for your money. We’ll work hard to protect it.”

Market Direction Is Important –

Updated Chart of the S&P 500 and Secondary Signals

Read more

Market Update

“You work hard for your money. We’ll work hard to protect it.”

Market Direction Is Important –

Updated Chart of the S&P 500 and Secondary Signals

Read more

Market Update

“You work hard for your money. We’ll work hard to protect it.”

Market Direction Is Important –

Updated Chart of the S&P 500 and Secondary Signals

Read more

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