No stranger to scandal, Wells Fargo is finding itself in the midst of another major publicity nightmare. This time affecting 800,000 auto loan borrowers were forced to purchase duplicate auto insurance which made the bank over $70,000,000. Further insult to these customers is that almost 25,000 had wrongful auto repossessions as a result.  Here is

For the purpose of this post let’s establish the difference between a “wirehouse” and a “RIA” according to Investopedia: Wirehouse: “a large integrated broker with a national, as opposed to regional, business. Wirehouses once collected trade orders from branch offices in distant cities using dedicated telegraph lines, hence the term wirehouse.”  Today they are Bank of America/Merrill Lynch, UBS, Wells

I was cleaning up some old mail today and came across this Disclosure Letter from May.  It is from a VERY large fund company that plenty of people do business with. Being a Registered Investment Advisor, we receive numerous solicitations from outside companies for the simple fact that they want us to invest our client assets with them.  They

In the most simple sense, I believe that all clients should receive investment advice from true fiduciaries. This is something a lot of people don’t understand, but this standard legally puts the clients best interest first.  Most banks, brokers, and insurance companies operate on something called the suitability standard. This allows them to put their