The U.S. Department of Labor on Tuesday said it has finalized a fiduciary rule governing retirement accounts that will close loopholes and widen the swath of financial advisors who must put their clients interests ahead of commissions or…
Joe Peiffer
When you walk into a financial adviser’s office, you expect them to put your best interests above all else — in the same way a doctor would, rather than, say, a car salesman. But many people don’t realize…
“A trade group representing plaintiffs’ lawyers on Tuesday called for the Securities and Exchange Commission to end a “broken” arbitration system for investors bringing claims against registered investment advisors and to force RIAs to be more transparent about…
“Following last month’s report by the SEC to the House Appropriations Committee on private arbitration (and the use of forced arbitration clauses) in the RIA industry, investor advocates vow that if the commission won’t mandate more industry transparency, they’ll push…
The Securities and Exchange Commission has no way to track the number of registered investment advisor arbitrations or unpaid arbitration awards, according to a just-released report. Last year, the House Appropriations Committee expressed concerns about the proliferation of…
As President of PIABA, the Public Investors Arbitration Bar Association, Joe Peiffer has led the fight for federal regulations that would require stockbrokers to place their retirement clients ahead of their own self-interests. That dream may become a…
Joe Peiffer was recently quoted in On Wall Street about shortfalls in FINRA’s BrokerCheck service. BrokerCheck does not disclose complete information about brokers. Joe, as president of the Public Investors Arbitration Bar Association (PIABA), drafted a letter to…
Joe Peiffer was recently quoted in an article that appeared in the magazine Financial Planning. The article concerned brokers’ meaningless self-designations as “retirement specialists.” LPL Financial recently paid a fine of $250,000 in relation to ten of its…