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Broker Tried Juggling 4 Jobs at One Time
[Photo: Juggling / r3bsolutions]
by Howard Haykin
Take, for example, a broker who worked for Thrivent Investment Management in its Scottsdale, AZ, branch office. She was actively engaged in 3 outside business activities when she joined Thrivent in January 2016. To matters worse, she never told the firm or otherwise sought its approval for any of these activities – until more than a year later. And all along she was receiving compensation for each activity, which included, the following:
- As principal and owner of a company, she provided bookkeeping and accounting services to small businesses and individuals.
- As office manager for a veterinary practice and animal hospital, she provided bookkeeping, accounting, real estate management and/or personal management services to the hospital, its owner and related entities.
- As a director and treasurer for the veterinary practice, she provided executive services.
- As trustee for the estate of the animal hospital's owner, she facilitated completion of estate documents, including a will and trust document.
CUSTOMER TAKE-AWAYS. If you feel ignored or are not getting adequate service, speak up. First to the broker, and then to firm management. If that doesn't help, move your account to a brokerage firm that respects your business – however large or small. And, if you incurred portfolio losses due to the poor servicing of your account - or you're simply upset with the entire matter - file a complaint with FINRA, the securities regulator.
[For further details, click on … FINRA Case #2018059598101.]
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