{"id":4468,"date":"2007-06-24T19:48:07","date_gmt":"2007-06-24T19:48:07","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/06\/stockbrokers_and_their_firms_t_1"},"modified":"2021-09-20T15:41:35","modified_gmt":"2021-09-20T20:41:35","slug":"stockbrokers-and-their-firms-t-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/stockbrokers-and-their-firms-t-1\/","title":{"rendered":"Stockbrokers and Their Firms: The Story of Bad Apples from Bad Orchards"},"content":{"rendered":"

\t\t\t\tAs a former Vice President and registered representative at several major brokerage firms for 20 years, I witnessed Wall Street in action. My assessment of Wall Street is that the majority of the 600,000+ registered representatives at over 5,000 brokerage firms are fairly honest people who seek the best interest of their clients. Unfortunately, there are some “bad apples” in that barrel \u2013 brokers who seek to line their own pockets with little regard for their clients. <\/p>\n

Yet, it is not so much the apples but the “orchard” that is most troubling today. When I began my investment career in 1970, those running investment firms sought to take care of their clients and maintain their firm’s image. Over the following 20 years, I witnessed their profit motive increasingly outstrip those goals. <\/p>\n

Today, it is clear that most financial firms pay little more than lip-service to their clients’ welfare. In the past decade, those who run these firms have discovered an important fact: Crime pays on Wall Street! The best example is the widespread research scandal which led to massive investigations, fines and lawsuits. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

As a former Vice President and registered representative at several major brokerage firms for 20 years, I witnessed Wall Street in action. My assessment of Wall Street is that the majority of the 600,000+ registered representatives at over 5,000 brokerage firms are fairly honest people who seek the best interest of their clients. Unfortunately, there […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3804,3788,3760],"tags":[],"class_list":["post-4468","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-class-action-lawsuits","category-nasd-enforcement","category-sec-enforcement"],"yoast_head":"\nStockbrokers and Their Firms: The Story of Bad Apples from Bad Orchards — Investor Lawyers Blog — June 24, 2007<\/title>\n<meta name=\"description\" content=\"As a former Vice President and registered representative at several major brokerage firms for 20 years, I witnessed Wall Street in action. 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