BILL SINGER: [M]any customers followed the high-priced advice of Wall Street's biggest brokerage firms and lost most or all of their investments. I suspect that many of those same customers figure that they could do just as poorly on their own--and by paying far less in commissions to an online, discount broker-dealer. Add to that the likelihood that many of those same folks are disenchanted with Wall Street's failures and scandals. The litany of unsuitable recommendations, conflicts of interest, insider trading and the like are not merely sharp jabs to the industry's chin but punishing body blows whose cumulative effect may well result in a knockout. . .
To read more of Bill's weekly Forbes column: The Street Sweeper, visit:
VISIT WALL STREET'S LEADING ONLINE COMMUNITY
[In]Securities a Guest Blog byAegis J. Frumento, Partner, Stern Tannenbaum & BellWeWork Works It OutWhen Lockheed's famed Skunk Works was sec... Read On
Talk to enough stockbrokers, advisors -- even lawyers -- and you'll learn that there is an unease about taking on a so-called complaining client. If y... Read On
GROWING SCANDAL ALERT!!! as detected by the oenophiles and turophiles at the prestigious Securities Industry Commentator feed and the BrokeA... Read On
A customer complains. The stockbroker prepares to defend his besmirched reputation. The brokerage firm does a cost-benefits analysis and pursuant to i... Read On
Finding Your Way Home (BrokeAndBroker.com Blog)http://www.brokeandbroker.com/4932/finding-your-way-home/A little music for BrokeAndBroker.com readers ... Read On