Published On: March 5, 2016

A new study by WealthManagement.com stated that almost half of financial advisors fired for misconduct are hired within a year. A University of Chicago study also found that almost 8% of the 650,000 advisors registered with the Financial Industry Regulatory Authority (FINRA) have a disclosure event on their record, including regulatory judgments, employment separations and civil and criminal judgments. Advisors with a history of misconduct are five times more likely to do something unethical again and advisors at firms whose executives have a record of misconduct are twice as likely to behave unethically. More than one advisor in seven at Oppenheimer & Co., Wells Fargo and First Allied Securities have a history of misconduct, but it is less than one in one hundred at Goldman Sachs and Morgan Stanley.

Disclaimer

The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.

Chicago Investment Fraud Attorneys Offering Nationwide Representation to Investors

If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

Stoltman Law Securities and Investment Fraud Attorneys