Protecting a Small Account

Small investors have been shaken by a recent spate of brokerage mishaps, leaving some people worrying if their own assets are safe. Brokerage firm Rochdale Securities, which is based in Stamford, Conn., has been struggling to stay afloat after an errant trade in October depleted the firm’s capital, while this month, Hudson Valley Capital Management, a New York firm, was expelled from the securities industry after its chief executive allegedly used customer assets to cover up losses he sustained while day trading.
Read Wall Street Journal report here.