Docstoc

Zamansky LLC Investigates Independent Broker Dealer Firms for Churning

Document Sample
Zamansky LLC Investigates Independent Broker Dealer Firms for Churning Powered By Docstoc
					                      Law Firm Newswire
                      Attorney Press Releases and Legal News
                      http://www.lawfirmnewswire.com

Zamansky LLC Investigates Independent Broker-Dealer Firms For
Churning, Unsuitable




Zamansky, LLC




New York, NY (Law Firm Newswire) June 11, 2014 – Zamansky LLC announces that it is investigating
independent broker-dealer firms for churning, unsuitable investments and other sales practice violations. According
to Jacob Zamansky, stock fraud attorney for over 25 years, as the stock market has reached new highs, financial
advisors have been under pressure to keep up. Our firm has seen incidents of churning by financial advisors and
sales of riskier and more speculative investments than investors want, Zamansky states.

Zamansky states that financial advisors at the smaller, independent brokerage firms may be in a position of trust
where they can exploit their customers. Financial advisors at smaller firms or who operate from independent offices
may have greater financial pressure to “pay the bills” by breaking the rules or engaging in misconduct, he states.
The smaller or independent firms also may lack compliance departments so that the firms are not supervising their
financial advisors as vigilantly, he states.

Zamansky states that he has seen many situations where the financial advisor at a small or independent brokerage
firm sells a customer a product which generates a large upfront commission where another lower fee product is
more suitable or appropriate for the customer. An example, he cites, are sales of the non-public REITS, rather than
the publicly traded REITs which may be a better, lower cost investment.

The largest independent brokerage firms are:

       LPL Financial
       Lincoln Financial Network
       Ameriprise Financial Services
       AXA Advisors
       Transamerica Financial Advisors
       Raymond James Financial Services
       MML Investor Services
       HD Vest Investment Services
       Park Avenue Securities
       Cambridge Investment Research
       NFP Advisor Services
       Commonwealth Financial Network
       National Planning Corp.
       ING Financial Partners
       MetLife Securities
       Princor Financial Services
       Royal Alliance Associates
       Securities America

What Investors At These Firms Can Do




                                                                                                          1/2
                                                          Law Firm Newswire
                                                          Attorney Press Releases and Legal News
                                                          http://www.lawfirmnewswire.com

                                   If you are an investor who has suffered a loss, or who wishes to have your circumstances or investments reviewed
                                   or discuss your legal rights, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the
                                   law firm at (212) 742-1414.

                                   About Zamansky LLC
                                   Zamansky LLC is a leading stock law firm specializing in securities and investment fraud class actions and FINRA
                                   securities arbitration. We are fraud attorneys who represent both individual and institutional investors. Our practice
                                   is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.

                                   To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.

                                   Contact
                                   Zamansky LLC
                                   50 Broadway - 32nd Floor
                                   New York, NY 10004

                                   Jake Zamansky
                                   Phone: 212-742-1414
                                   Email: jake(at)zamansky(dot)com




                                                                                                                                                2/2
Powered by TCPDF (www.tcpdf.org)

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:15
posted:6/14/2014
language:English
pages:2