Author Archives: FLSecurities
Broker Obligations When Selling Municipal Bonds
When Selling Municipal Bonds What are the Broker’s Obligations Many brokers and customers mistakenly believe that municipal bonds are always a “safe” place to be. The recent debacle in Puerto Rico proves this is not the case. The law imposes special obligations upon brokers who sell municipal bonds. First, the broker must thoroughly research… Read More »
ABLE Plans: Helping Families of Kids With Special Needs Save for the Future
Starting July 1, Florida families with children who have special needs will have another option available to help them save for the future costs of caring for their loved one. Florida’s ABLE United Program is one of four such plans nationwide. The ABLE (Achieving a Better Life Act) investment plan will allow families to… Read More »
How to Make Sense of Your Monthly Account Statements
Brokerage account statements can be lengthy and complicated. Having a basic idea of what you are looking at, however, can help you spot mistakes, unauthorized activity, and even fraud. Here are the key types of information generally found on monthly account statements and some potential red flags that warrant follow-up with your brokerage firm…. Read More »
Financial Fraud: Don’t Be an Easy Target
The headlines are full of stories of identity theft and investment fraud. There are steps you can take to keep from being an easy target. Guard your Social Security number! Memorize the number and don’t carry your Social Security card unless you know you are going to need it (for example, it’s your first… Read More »
What to Know Before Following your Broker to a New Firm
If you have been with your broker for a while, chances are you have developed a good relationship with him or her. If he or she decides to change brokerage firms one day, you will most likely be asked to follow him or her to the new brokerage firm. A good relationship with your… Read More »
Securities-Backed Lines of Credit: Are They Worth the Risk?
If you have a brokerage account, you have probably received a pitch from your broker for a securities-backed line of credit (SBLOC). Contrary to the flashy marketing brochure you may have seen, SBLOCs aren’t the best things since sliced bread. Know the facts before you consider one. An SBLOC is a non-purpose revolving line… Read More »
Master Limited Partnerships: What You Need to Know
We have received several inquiries recently about investments in master limited partnerships (MLPs). It seems that, although the popularity of MLPs is growing, many investors still don’t understand exactly what an MLP is or the risks involved in investing in one. An MLP is a kind of limited partnership that is publicly traded on… Read More »
Crowdfunding and Securities? What?!
As many readers may know, “crowdfunding” is a modern innovation for raising money. Typically using internet sites like Indiegogo, Kickstarter, or GoFundMe, a person can set up a website to raise money to develop a product or initiate some kind of project. Projects funded through crowdfunding range the gamut from feature films to video… Read More »
Investment Advisor Fraud – Who You Gonna Sue?
Here’s something you probably don’t think about when you hire an investment advisor: who will I be able to sue if this person steals my money? Maybe you should think about it. Investment Advisor Fraud If you’re dealing with a major brokerage firm like Merrill Lynch, Morgan Stanley, UBS or Charles Schwab, the answer… Read More »
FINRA Fines MetLife Securities for Variable Annuity Switches
According to the Financial Industry Regulatory Authority (FINRA), it has fined MetLife Securities, Inc. (MetLife) $20 million and ordered it to pay $5 million in restitution for misrepresenting and omitting material information in connection with variable annuity switches. FINRA found that, during the period 2009 to 2014, MetLife misrepresented the costs and guarantees of… Read More »