Investor Alert: Wayne Pirmann and Sigma Financial Corporation

Investor Alert: Wayne Pirmann and Sigma Financial Corporation

According to his Brokercheck report, Wayne R. Pirmann, a former registered representative of Sigma Financial Corporation, is involved in three pending customer disputes. Pirmann’s Brokercheck report also shows that Pirmann has been involved in two customer disputes that have settled, one in 2011 and one in 2014 (for $65,000 and $128,500 respectively). All of…

Investor Alert: Jack McBride and Ameriprise Financial Services, Inc.

Investor Alert: Jack McBride and Ameriprise Financial Services, Inc.

According to his Brokercheck report, Jack B. McBride (CRD#2517946) of Birmingham, Michigan has been involved in 3 customer disputes in recent years, including two that were reported in 2015. McBride is currently a registered representative of Wunderlich Securities, Inc.; however, the recent customer disputes appear to relate to investment recommendations that McBride  made while registered with Ameriprise…

DOL Fiduciary Rule Set to Shake Up Securities Industry

DOL Fiduciary Rule Set to Shake Up Securities Industry

On April 8, 2016, the Department of Labor (“DOL”) promulgated regulations designed to tackle the problem of “conflicted advice” in the retirement savings industry. Conflicted advice refers to the situation in which a securities broker or other “advice provider” [1] makes a  recommendation to a customer that is based, at least in part, on the advice provider’s own pecuniary…