It’s a Red Flag for Your Retirement or Investment Accounts
Some Modern investment theories call for balanced investments in ETFs that track stock and bond indexes. Today, Trading accounts are rare. Brokers also encourage managed money where they take a 1-1.5% management fee. Sometimes, after initial account allocations the management fees may be unnecessary or excessive. However, given the relatively low management fee, such an arrangement is not per se inappropriate. In contrast to this modern investment theory, there are still brokers that charge retail commissions and encourage trading accounts. Recently, FINRA censured and fined Network 1 Financial Securities Inc. and suspended its broker, Michael Robert Molinaro, for the frequency of stock trades in customer accounts and Network 1’s failure to detect or prevent such activity. If you have frequent trades in your account and are paying commissions for each trade, you may have a claim for recovery of those costs as well as any related losses. If you have questions about activity in your account and are not satisfied with your broker or his explanation, contact us for a no-cost review of your situation. To initiate that process, you can either contact Attorney Mark A. Tepper by sending an email to askmark@marktepper.com or calling 954-704-2310. If the claim is accepted it will be taken on a contingency basis, although you may be responsible for filing and expert fees.