Tom Schoenberg

1 month ago | thinkadvisor.com | Tom Schoenberg

/Business & Finance / ThinkAdvisor ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions.

1 month ago | bloomberg.com | Tom Schoenberg

When Richard Kallman’s 26-year marriage failed, he arrived at a meeting to hash out the separation, expecting to see his wife and her lawyer. But instead, the couple’s new wealth manager from UBS Group AG showed up and demanded Kallman fork over $9 million. Almost two years later, that allegation is among several laid out in New York state court accusing Ira Walker, a managing director at UBS, of wreaking havoc on Kallman, the heir to a family of New York-area bookdealers.

1 month ago | ca.finance.yahoo.com | Tom Schoenberg

The Financial Industry Regulatory Authority and Securities and Exchange Commission, which police brokers and advisers, require that they pitch investments that are in their clients’ “best interest.” Firms are supposed to closely monitor that process. But private interactions can quickly enter legal gray areas, in part because regulators generally leave it to companies to set their own codes of conduct. It’s a contrast with other fields, including health care and law.

1 month ago | flipboard.com | Tom Schoenberg

NowGravity may be finally catching up to Elon Musk as Tesla stock tumblesNew York CNN — Elon Musk’s DC power grab hasn’t been the Tesla-stock jet fuel investors were expecting. Tesla shares have fallen more than 40% since January — erasing all of the “Trump bump” that briefly saw the stock gain more than 90% after Election Day.

1 month ago | bloomberg.com | Christine Dobby |Ari Altstedter |David Voreacos |Tom Schoenberg

On an overcast spring day in 2021,Da Ying “David” Sze walked out of a four-story concrete warehouse in Queens, New York, carrying several bags full of money. Sze, a father of two in his 40s and the owner of a garment company operating out of the warehouse, placed the bags in a Lexus SUV, then drove with two associates to a bank, where they made several large cash deposits. Unbeknownst to Sze, he was being watched the whole time. Federal agents had been surveilling him for months.