|
| Company |
Problem
|
Date |
Fund Police Opinion
|
Rating |
|
|
Excelsior
|
Allowed four institutions to market-time eight firm funds.
|
2/1/2004
|
This is the thorn in Schwab's side. FP's advice is to steer clear of this fund.
|
Red Light
|
|
Farmers Financial Solutions
|
The company failed to report information about their brokers to customers. The information included customer complaints, regulatory actions, criminal charges and convictions.
|
12/2/2004
|
FP's financial solution is for people to avoid doing business with a company that avoids following the rules.
|
Red Light
|
|
Federated
|
Arranged for market timing and late trading in their own funds.
|
2/1/2005
|
Not only did they unlock the door, they held it open for fraudulent activity!
|
Red Light
|
|
|
Federated
|
Announced the SEC and NASD requested information regarding their fund trading practices.
|
8/9/2004
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
Charged with market-timing and late-trading in exchange for sticky assets.
|
8/1/2004
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
Rapid trading charges.
|
8/1/2004
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
Company allowed hedge funds to market-time its funds. Also overlooked late trading that occurred.
|
7/26/2004
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
Market-timing arrangements made as well as allowed for late-trading to occur.
|
6/1/2004
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
Smart Money magazine analyzed nine fund families and their tainted funds. They found that even before the mutual fund scandal began, these funds were underperforming and unimpressive.
|
2/1/2004
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
Funds allowed late-trading and market-timing to occur.
|
2/1/2004
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
Allowed market timing and late trading to occur in its funds.
|
2/1/2004
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
Failed to review internal complaints about frequent trading.
|
1/8/2004
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
Admitted to allowing market-timing and late trading in its funds.
|
1/1/2004
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
An internal investigation uncovered excessive rapid trading, allowed for select investors even though the company's policy limits the practice. Illegal late trading was also found.
|
12/9/2003
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
Allowed for rapid-trading in funds.
|
11/30/2003
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Federated
|
Firm is reluctant to share information with shareholders about whether or not their investments were affected by market-timing and late-trading.
|
11/13/2003
|
Here we go again! Just admit your guilt, pay your fine and move on.
|
Red Light
|
|
Federated
|
An internal investigation uncovered excessive rapid trading, allowed for select investors even though the company's policy limits the practice. Illegal late trading was also found.
|
11/4/2003
|
We are surprised to see Federated caught up in the fund scandal. They have marketed themselves as "institutional quality". At the end of the day, their lack of procedures allowed investor trust to be broken.
|
Red Light
|
|
Fidelity
|
The SEC has hit the company with a Well's Notice. A Well’s Notice is a notification from regulators to inform companies of completed investigations where infractions have been discovered. This comes from the investigation regarding Fidelity traders accepting gifts from external brokers.
|
8/8/2005
|
HUGE conflicts of interest exist at many large brokerage firms. FP suggests you steer clear and seek advice from a FEE-ONLY planner. Visit www.napfa.com.
|
Red Light
|
|
Fidelity
|
Executives have reportedly been involved in the ongoing investigation that involves members of Fidelity receiving inappropriate gifts from brokers.
|
6/29/2005
|
"Leading by example" refers to good deeds, not misdeeds. Red light!
|
Red Light
|
|
Fidelity
|
Federal investigators are looking into the possibility that some Fidelity Investment traders traded drugs and other ‘perks’ with Wall Street brokers to move more business their way.
|
5/6/2005
|
HUGE conflicts of interest exist at many large brokerage firms. FP suggests you steer clear and seek advice from a FEE-ONLY planner. Visit www.napfa.com.
|
Red Light
|
|
Fidelity
|
As company investigations into preferential trading continue, a fifth trader has left the company under allegations information was leaked before Fidelity officially placed trades.
|
3/25/2005
|
While this case is still under investigation, Fidelity has not rated anything but Red in our database.
|
Red Light
|
|
Fidelity
|
Massachusetts is currently withholding additional investments for their pension plans with Fidelity.
|
2/3/2005
|
Follow the lead of the state of Massachusetts and re-evaluate your investments! Use a fee-only advisor who gives you unbiased information. Visit www.NAPFA.com.
|
Red Light
|
|
Fidelity
|
Excessive gifting to brokers at Fidelity causes red flags to go up. Some are fired, others voluntarily leave.
|
1/24/2005
|
The article accused Fidelity's traders of having "boys club" behavior! Investors look like the ones who were kicked out of the club.
|
Red Light
|
|
Fidelity
|
The head of stock trading at Fidelity was fined by the company for failing to properly supervise excessive gifts given to traders at Fidelity by other companies. He was also a participant in receiving excessive gifts when he played in a golf tournament paid for by Bank of America.
|
12/21/2004
|
"Leading by example" refers to good deeds, not misdeeds. Red light!
|
Red Light
|
|
Fidelity
|
Fidelity has been cited for employees who were being given and accepting lavish gifts, exceeding the company's policy on gift limitations. 14 traders have been disciplined and two were fired.
|
12/20/2004
|
Gifting policies have not been eliminated altogether, leaving room for problems and conflicts of interest to occur in the future.
|
Red Light
|
|
Fidelity
|
Fidelity's traders were lavishly gifted by outside brokers which violated the company's limits on gifting.
|
12/17/2004
|
This type of problem happens with commissioned-based brokers. FP suggests you seek a fee-only advisor. Check out www.NAPFA.com for people who care about your interests, not funding their next exotic vacation.
|
Red Light
|
|
Fidelity
|
Improper gifts exchanged between Fidelity Investments and brokerage firms are a new "wave" of investigations by the SEC and NASD.
|
12/15/2004
|
After staying clean for most of 2004, Fidelity takes a hit in the ethics area.
|
Red Light
|
|
Fidelity
|
Fidelity Trader David Donovan and his brother, Peter Donovan, an employee of Bank of America Securities are under investigation for an improper business relationship. They may be charged with conspiracy to negotiate overpriced transactions.
|
12/14/2004
|
$20 million means they were caught RED handed.
|
Red Light
|
|
Fidelity
|
Fidelity Investments traders have received lavish gifts from Jeffries brokers. Executives and portfolio managers have recieved country club memberships, trips to Las Vegas, and tickets to the World Series.
|
12/13/2004
|
This type of problem happens with commissioned-based brokers. FP suggests you seek a fee-only advisor. Check out www.NAPFA.com for people who care about your interests, not funding their next exotic vacation.
|
Red Light
|
|
Fidelity
|
Company destroyed or altered customer documents to score perfect marks on internal audits.
|
8/9/2004
|
Likely the result of employees trying to look better to Fidelity, than Fidelity having a plot to lie to regulators.
|
Red Light
|
|
