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Big Name Brokerage Firms Hurting Baby Boomers

Mara Der Hovanesian has written a story that all baby boomers should read.  In this week’s BusinessWeek, Hovanesian covers the story that Investor’s Watchblog has been following since our launch and that too few reporters cover.  There is a tidal wave of investment fraud breaking over American baby boomers.  Their nest eggs are disappearing not [...]

Mara Der Hovanesian has written a story that all baby boomers should read.  In this week’s BusinessWeek, Hovanesian covers the story that Investor’s Watchblog has been following since our launch and that too few reporters cover.  There is a tidal wave of investment fraud breaking over American baby boomers.  Their nest eggs are disappearing not only into the hands of con artists, but also into the hands of overeager and commission-hungry stockbrokers at America’s largest and best known brokerage houses. 

FINRA’s free broker-check report can’t tell you what you most need to know about a broker, and a sales presentation alone is typically loaded with so many misrepresentations and ridiculously optimistic assumptions that a customer has no prayer of surviving it.  How, then, to learn whether you are putting your life savings at risk?   Only private investor protection can give you any measure of comfort.  Ask a former SEC Enforcement Branch Chief what he thinks; you’ll learn things that FINRA won’t tell you.

 

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