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Two former Morgan Stanley advisors in the Boston area were charged with stealing nearly $500,000 from clients. The Securities and Exchange Commission filed a complaint against James Polese and Cornelius Peterson, who allegedly used clients’ money for various purposes, including making investments of their own, directing it to Polese’s personal bank account and paying off credit cards and college tuition expenses. ...
Most Robos Use ETFs, But That's a Mistake
Most robo-advice platforms use ETFs to build their underlying portfolios, and as long as markets are going well, that's OK, writes Dan Tammas-Hastings on the CFA Institute's Enterprising Investor blog. But they are blunt instruments, and the goal of automation, even in investing, is precision, particularly when market risk rises. ...
Upstate NY Man Dies Weeks After Winning Lottery
After winning $1 million on a lottery ticket just after the new year, Donald Savastano seemingly did everything right. He planned to save for retirement, invest some and maybe buy a new truck. He also scheduled a trip to the doctor. Turns out that Savastano, a self-employed carpenter in Sidney, N.Y., was battling brain and lung cancer and didn't know it. Just a few weeks after he won the lottery, he died. ... |
