A Cautionary Tale in the SPO Debate

Moisand, Dan
May 2011
Journal of Financial Planning;May2011, Vol. 24 Issue 5, p28
Academic Journal
The article focuses on the strategy used by financial planners of taking money out of the individual retirement accounts of clients in the U.S. The author relates a story of a client advised by his financial planner to get variation of premiums to avail tax exemption but ended the other way. He comments that the act of the financial adviser is incompetent and unethical. He criticizes the work of the Financial Industry Regulatory Authority (FINRA) in regulating the purchase auction-rate securities (ARS) of insurance companies.


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