Suckered Into Buying TICs?

Unfortunately, you are not alone. Many brokers at firms like LPL and Ameriprise were sold high risk, illiquid Tenants In Common (TICs). These sales are coming back to haunt brokerage firms. Dozens of clients have filed lawsuits in recent years related to claims made in TIC sales. Regulators have been sounding the alarm on fraudulent…

Frederick Brimmer & Money Concepts Capital Corp

We are investigating the sales practices of former Money Concepts Capital Corp. financial advisor Frederick G. Brimmer II out of Marietta, Georgia. Without admitting or denying the findings, Brimmer consented to the described sanction of FINRA and to the entry of findings that he misappropriated $10,000 from two elderly brokerage customers who had provided him…

Morgan Stanley and Edward Jones Sued Over 401(k) Plan Mismanagement and Fees

Both Morgan Stanley and Edward Jones are in hot water because of mismanagement and overcharging of fees regarding the companies’ 401(k) plans. Morgan Stanley was accused of mismanaging the firm’s 401(k) retirement plan and costing 60,000 employees hundreds of millions of dollars by picking inappropriate and high-priced investments. This was done in order for the…

Newbridge Securities, Shearson Financial Services Fined for Excess Charges to Customers

The Financial Industry Regulatory Authority (FINRA) recently charged two Boca Raton, Florida firms, Newbridge Securities and Shearson Financial Services, for securities violations that resulted in customers losing money. Newbridge Securities Corp allegedly failed to apply discounts to certain purchases. These discounts were supposed to be applied to sales charges, and as a result, clients paid…