Promissory notes and Ponzi schemes are the leading products or schemes that are likely to trap investors in 2020, according to the North American Securities Administrators Association.
Filling out the top five likely investor traps are real estate investments, cryptocurrency-related investments and social media/Internet-based investment schemes, NASAA said in a release.
The organization of state and provincial securities regulators in the United States, Canada and Mexico, said its top-five list is based on investor complaints, ongoing investigations and current enforcement trends.
The most common telltale sign of an investment scam, said Christopher W. Gerold, NASAA president and chief of the New Jersey Bureau of Securities, is an offer of guaranteed high returns with no risk, who noted that many of the threats facing investors involve private offerings, which are exempt from federal securities registration requirements and are not sold through public stock exchanges.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
