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You may have lost money in your investment portfolio,
due to mismanagement and not even know it.

May 2015 Archives

Wells Fargo accused of duping customers, investors

If you are a Wells Fargo Bank customer and have discovered that there are unauthorized accounts open in your name, or that you have services being billed to your account that you have not asked for, chances are that you are not alone. According to a recent LATimes.com report, the City of Los Angeles has initiated a lawsuit against the banking giant alleging that it engaged in “unfair, unlawful and fraudulent conduct” in opening bogus accounts for customers that would result in fees and charges that they could not afford.

Lax supervisory systems leads to $11.7 million in sanctions

In our last post, we highlighted a few of the many forms of investment fraud that can befall otherwise prudent investors. Specifically, we highlighted the actions of biased investment advice and unfounded advice. Both are harmful in that they ignore (or fail to include) information that would have been obtained through prudent research, and could lead unwitting investors into bad investments while the brokerage firm (or agent) profits.

Common forms of investment fraud

Generally speaking, investment brokers and advisors are instrumental in helping investors grow and manage their assets. Their knowledge of particular industries, and their ability to explain the benefits and risks of particular funds can be invaluable. Indeed, a majority of brokers and advisors are client-focused, responsible custodians of client funds. However, there are others who are not.

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