There are still five months left in 2021, but there’s already a long list of advisors and brokers who qualify for the dubious distinction of being one of the worst financial advisors of the year.
As usual, we have seen a fair share of advisors conducting Ponzi schemes, stealing from older adults and other clients, forging clients’ signatures, and creating elaborate investment scams in 2021, as well as scammers claiming to be investment advisors.
We even had an advisor charged with kidnapping and battery, as well as another charged with child sexual assault and indecency.
The year has also included former brokers who are accused of taking part in the U.S. Capitol riot: an ex-Cantor Fitzgerald broker and Olympic medalist who was charged in the Jan. 6 riot; a former RIA who killed himself after being arrested in connection with that incident; and a former broker who worked briefly in a Merrill Lynch call center and was identified in an indictment by the Justice Department as president of the Philadelphia branch of the Proud Boys, a far-right, white nationalist group.
ThinkAdvisor searched Securities and Exchange Commission, Financial Industry Regulatory Authority and other enforcement actions, as well as local news outlets, to find some of the worst advisors of the year.
Check out the gallery above to see our selections as the top 10 worst financial advisors — and fraudsters impersonating advisors — in the United States so far this year.
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