Customer Compatibility , Decreasing Complaints and Improving Happiness

My anecdotal evidence from speaking with financial advisors suggests that some clients - including those who don't really fit the advisor's ideal client profile - may be much more problematic to serve and may lead to customer complaints, arbitration claims and regulatory actions. This HBS working paper also seems to suggest that "customer compatibility" is a real and meaningful thing and that it can also affect the bottom line.

FINRA Sanctions Rep Over Fidelity Computer Equipment Purchase Assistance Program

We know that FINRA has been investigating numerous individuals who had worked at Fidelity, in connection with a benefit program they maintained, the Computer Equipment Purchase Assistance Program, which would allow employees to seek partial reimbursement for a personal computer purchase or related items every few years. Last week, on February 7, 2019, FINRA accepted […]

Georgia Records Restriction: Sealing Non-Conviction Criminal Records

Those with criminal charges against them in Georgia, that concluded without a restriction, may wish to seek to have the criminal history record information about the matter restricted, and the court file sealed, where possible under Georgia law, so that information about the matter does not prevent them from gaining employment, interfere with their business, or otherwise impact their livelihood.

FINRA Announces 529 Plan Share Class Initiative

In late January 2019, FINRA issued Notice 19-04, announcing their 520 Plan Share Class Initiative, and offering broker-dealers the opportunity to self-report supervisory-related violations relating to certain sales of 529 plans to investors. Broker-dealers should carefully review this notice with their legal and compliance team, and evaluate their exposure, if any, to regulatory action.