Interview with Ben Carlson I found interesting:
https://www.thinkadvisor.com/2020/0...-for-financial-scams/?slreturn=20200017132033
This really jumped out at me:
There are “six signs of financial fraud: When the money manager has custody of your assets; when there’s an aura of exclusivity in the pitch; when the strategy is too complicated to understand; and when the story is too good to be true,” you write. What’s the most glaring red flag?
The biggest one in terms of financial fraud is the custody of assets. That’s where people missed the boat with the Madoff scandal. Their assets weren’t held at a third-party bank or custodian. Madoff had control of the assets and was also making up the statements.
https://www.thinkadvisor.com/2020/0...-for-financial-scams/?slreturn=20200017132033
This really jumped out at me:
There are “six signs of financial fraud: When the money manager has custody of your assets; when there’s an aura of exclusivity in the pitch; when the strategy is too complicated to understand; and when the story is too good to be true,” you write. What’s the most glaring red flag?
The biggest one in terms of financial fraud is the custody of assets. That’s where people missed the boat with the Madoff scandal. Their assets weren’t held at a third-party bank or custodian. Madoff had control of the assets and was also making up the statements.