The SEC gave notice of intent to issue an order that would increase the minimum assets under management or net worth that a client must have before an investment adviser may charge performance-based fees.
Investors are borrowing against their portfolios at record levels, according to FINRA data about debit balances in margin accounts. As of November 2020, investors borrowed more than $722 billion against the value of their accounts.
Metals.com and its parent company, TMTE, Inc., along with Chase Metals, LLC, Chase Metals, Inc., Barrick Capital, Inc., and its principals Lucas Asher (aka Lucas Thomas Erb, aka Luke Asher) and Simon Batashvili are alleged to have run a nationwide fraud that brought in more than $185 million in money from customers to buy fraudulently overpriced gold and silver bullion.
Mistakes made by even well-intentioned financial advisers, stock brokers, promoters, solicitors, and others who give investment advice or sell financial products sometimes come to light when markets are volatile or when a bull market ends.
Investors have access to free electronic search tools through self-regulatory organizations, federal, and state regulators to research investment firms and professionals. This post describes several free tools that give access to information beyond what you can learn using Google and other search engines.