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smalladvisorsunite
Sep 24, 20211 min read

More Shenanigans

The SEC busted some more RIA’s: Berthel Fisher & Company Financial Services Inc. and Regal Investment Advisors, LLC. Their ADV’a listed Schwab as a Broker Dealer/Custodian. Do you think Schwab booted them off the platform and sent letters to the account holders?


First class passengers on the Titanic were given space on lifeboats while steerage passengers drowned. Did not matter if the first class passengers were old and near the end or the steerage passengers were children. It was all about money!


I am tracking this now. I mean to expose Schwab for what they are - a ruthless bully.



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Broker Dealers seem quite casual, if not indifferent, to informing RIA clients that they have terminated the contract with their advisor. Almost like telling a motorist he left his car lights on. Broker Dealers refer to these individuals as account holders, while RIA's refer to them as clients. If you ask a compliance person at a Broker Dealer how the recipients of the notice of termination are likely to "feel" after receiving notice, they will show you that they have not given the matter much thought, and really don't care. 

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