I don't know about you, but I am tired of reading about thieves posing as advisors who steal or lose their clients' money. Celebrities are too often the target, but the minute you say, “It can't happen to me,” look out, don't let your guard down.
According to the Wall Street Journal, about one in every eight brokers has red flags including complaints or other problems disclosed in their regulatory filings. It is caveat emptor since 70,000 brokers have at least one disclosure, nearly 3,000 brokers have at least five disclosures, and they are all out there still working with clients. Don't give these brokers the benefit of the doubt. It isn't worth risking your hard earned savings.
