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Schwab Intelligent Portfolios

Schwab Intelligent Portfolios: Robo-Adviser Subsidiaries Ordered to Pay $187M for Misleading Clients

Three investment advisers, subsidiaries of Charles Schwab, have been hauled up by the Securities Exchange Commission (SEC). The reason provided is that they made “false and misleading statements” regarding the cash component in Schwab Intelligent Portfolios, its robo-adviser service. In addition, they allocated client funds in a manner that was demonstrated to be less profitable …

Schwab Intelligent Portfolios: Robo-Adviser Subsidiaries Ordered to Pay $187M for Misleading Clients Read More »

GWG Holdings Lawsuit

GWG Holdings Investor FAQ, GWG L Bonds, Lawsuit, and Loss Recovery

GWG Holdings Inc. filed for Chapter 11 protection in the US Bankruptcy Court in the Southern District of Texas (case number 22-90032) on April 21, 2022. Investors have filed a GWG Holdings lawsuit “FINRA” claim to recover losses for alleged suitability issues. The company reported approximately $2.1 billion in total liabilities. For investors owning GWG …

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RiverSource (Ameriprise) Fined $5M

RiverSource (Ameriprise) Fined $5M For Improper Annuity Switches

RiverSource Distributors, which operates as a subsidiary brokerage firm of Ameriprise, has been asked to pay a fine of $5 million by the Securities and Exchange Commission (SEC). The fine has been levied for variable annuities related to alleged violations. It has emerged that the sales strategy employed by many employees of RiverSource required customers …

RiverSource (Ameriprise) Fined $5M For Improper Annuity Switches Read More »

Western International Securities (WIS)

Western International Securities Along with 5 Brokers Charged for Reg BI Violation in GWG L Bond Sales

Steven Graham, Thomas Swan, Nancy Cole, Patrick Egan, and Andy Gitipityapon, all registered representatives of Western International Securities (WIS), a registered broker-dealer, have been charged for their violation of Regulation Best Interest (Reg BI) by the Securities and Exchange Commission (SEC). The broker-dealer has also been charged. The charge relates to their recommendation and sales …

Western International Securities Along with 5 Brokers Charged for Reg BI Violation in GWG L Bond Sales Read More »

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