Regulators zero in on protecting elderly investors

An aging population has investment advisers and brokers zeroing in on older clients to build their books of business, while regulators target the same group for investor protection. On Monday, the Financial Industry Regulatory Authority Inc. filed a cease-and-desist order against Avenir Financial Group for sales of equity in the firm and promissory notes. Finra alleged that Avenir lied about the health of the firm and raised more than $730,000 over three years in sales mostly to elderly customers. Finra also barred an Avenir registered representative, Cesar Rodriguez, for the personal use of $77,000 in investor funds. More in Investment News here.

Share This Page:
  • email
  • Facebook
  • Twitter
  • LinkedIn