{"id":10090,"date":"2021-08-02T15:35:45","date_gmt":"2021-08-02T19:35:45","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=10090"},"modified":"2021-08-02T15:35:45","modified_gmt":"2021-08-02T19:35:45","slug":"sec-warning-about-brokers-is-your-financial-advisor-registered","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/sec-warning-about-brokers-is-your-financial-advisor-registered\/","title":{"rendered":"SEC Warning About Brokers: Is Your Financial Advisor Registered?"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9890 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall.jpg\" alt=\"The SEC has issued an investor alert for people regarding fraudsters posing as brokers and investment advisors.  We\u2019ve previously discussed brokers and investment advisors and their different schemes for defrauding clients\u2014especially long-term clients. But as the SEC warns, there\u2019s more to it than that, and a tactic you may not realize exists.  While you may have an established relationship with an investment professional, there are others who may attempt to convince you to terminate that relationship in favor of a new one. These individuals are frequently not registered brokers or investment advisors, but fraudsters. And that\u2019s where the trouble starts. Many Ponzi schemes and other investment frauds use unregistered financial advisors to sell their securities. Sometimes, these advisors characterize themselves as senior wealth advisors or elder specialists to gain access to clients. \u00a0  False Claims And Misrepresentation In The Sale of Securities  If you\u2019ve ever received a friend request on social media from someone you are already connected to, you\u2019ve experienced a \u201cspoof.\u201d This happens when someone creates an account pretending to be someone you already know. They steal a few pictures and facts so that people believe that the new account is the same friend. Also called \u201ccloning,\u201d you may not realize that the second account isn\u2019t the same person until you begin conversing with them and realize something is wrong.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>The <a href=\"https:\/\/www.sec.gov\/oiea\/investor-alerts-and-bulletins\/fraudsters-posing-brokers-or-investment-advisers-investor-alert\" target=\"_blank\">SEC has issued an investor alert<\/a> for people regarding fraudsters posing as brokers and investment advisors.<\/p>\n<p>We\u2019ve previously discussed brokers and investment advisors and their different schemes for defrauding clients\u2014especially long-term clients. But as the SEC warns, there\u2019s more to it than that, and a tactic you may not realize exists. <a href=\"https:\/\/www.silverlaw.com\/blog\/sec-warning-about-brokers-is-your-financial-advisor-registered\/#more-10090\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SEC has issued an investor alert for people regarding fraudsters posing as brokers and investment advisors. We\u2019ve previously discussed brokers and investment advisors and their different schemes for defrauding clients\u2014especially long-term clients. But as the SEC warns, there\u2019s more to it than that, and a tactic you may not realize exists. Continue reading \u203a<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[619,580],"tags":[],"class_list":["post-10090","post","type-post","status-publish","format-standard","hentry","category-sec-investor-bulletin","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Warning About Brokers: Is Your Financial Advisor Registered? &#8212;<\/title>\n<meta name=\"description\" content=\"The SEC has issued an investor alert for people regarding fraudsters posing as brokers and investment advisors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/sec-warning-about-brokers-is-your-financial-advisor-registered\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Warning About Brokers: Is Your Financial Advisor Registered? &#8212;\" \/>\n<meta name=\"twitter:description\" content=\"The SEC has issued an investor alert for people regarding fraudsters posing as brokers and investment advisors.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/03\/FiverrLossesSmall.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Warning About Brokers: Is Your Financial Advisor Registered? &#8212;","description":"The SEC has issued an investor alert for people regarding fraudsters posing as brokers and investment advisors.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/sec-warning-about-brokers-is-your-financial-advisor-registered\/","twitter_card":"summary_large_image","twitter_title":"SEC Warning About Brokers: Is Your Financial Advisor Registered? 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