Articles

Financial Planner Expert Witness – Ultra-High Net-Worth Clients and FINRA Arbitration 

F. Scott Fitzgerald: “The rich are different than you and me.”

Ernest Hemingway: “Yes, they have more money”

This apocryphal conversation between two giants of American literature only scratches the surface of the difference between ultra-high-net worth investors and the rest of us. I have had quite extensive dealings with this class of investor (defined as having $30,000,000+ in investable assets) and I’ve discovered that they are indeed different.

 

 

 

FINRA Expert Witness: What FINRA is and how it helps to resolve investor/financial adviser disputes

The Financial Industry Regulatory Authority—FINRA—was established in 2007 as a combination of the National Association of Securities Dealers—NASD and the member regulation, enforcement and arbitration functions of the New York Stock Exchange. Contrary to popular belief, FINRA is not an agency of the federal government. It is a private, non-profit corporation that acts as a self-regulating organization charged with overseeing all aspects of the securities industry. In this capacity, FINRA monitors all trading of public securities, maintains oversight of 4,250 member firms, conducts licensing and continuing education training for more-than 600,000 registered representatives and provides the largest forum for arbitration of disputes in the securities industry.

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