Posts Tagged ‘mutual fund fraud’
NBC Securities: A History of Investor Complaints
NBC Securities is an Alabama-based broker-dealer as well as a registered investment advisory firm. It is registered to sell securities in all 50 U.S. states and Washington D.C. The main office is located in Birmingham, Alabama, and the broker-dealer has offices throughout the United States. NBS Securities representatives may introduce investors to other broker-dealers including…
Read MoreVincent Virga Fined By FINRA
Vincent Virga (CRD #: 5070668), an investment adviser and broker registered with Madison Avenue Securities in Bayonne, New Jersey, has consented to a $5,000 fine from the Financial Industry Regulatory Authority, according to his BrokerCheck record, accessed on February 1, 2021. Virga also offers financial advisory services through PFS Wealth Management Group. On November 20,…
Read MoreLarry Michaels Settles with Investors Who Alleged Mutual Fund Mismanagement
Larry Michaels (CRD #: 4351477), a broker registered with Crown Capital Securities, is involved in an investor dispute over mutual funds, according to his BrokerCheck record, accessed on January 28, 2021. There is another disclosure on his record that investors should note. On December 1, 2020, an investor alleged that Larry Michaels did not make…
Read MoreMichael Nigro: Investor Alleges Losses of $226,000
Michael Nigro (CRD #: 2097646), a broker registered with MML Investors, was named in an investor dispute involving allegations of misrepresentation, according to his BrokerCheck record, accessed on January 21, 2021. There are a few other disclosures on his record that investors should note. On December 10, 2020, investors alleged that Michael Nigro misrepresented investment…
Read MoreMutual Fund Fraud: Investors Should Be Wary of Unnecessary Mutual Fund Fees
You may have heard mutual funds touted as one of the best ways to diversify a portfolio. They enjoy an air of investment acuity and financial maturity. But because of their complexities, investors can easily miss important information about fees in the prospectus — the document that explains how much the mutual fund will cost…
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