It’s time to stop calling brokers ‘financial advisors’

Recently, Beverley Schottenstein won a $19 million fraud ruling against JP Morgan, a rarity in the industry as many people don't have the resources to take brokerage firms to task. That's because the system is designed this way – and years of half-hearted reforms have done little to protect consumers from harm. Unfortunately, the Schottenstein saga proved that consumers must conduct their own extensive due diligence before making the critical decision of hiring an investment professional.

Read my latest opinion in MarketWatch for the steps and resources you can use to make sure your assets are held with a trusted investment advisor.