This past year offered an extensive 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.
But there’s more to life, and crime, than money. One advisor on this list was even charged with murder. (It should be noted that some of these advisors have not been convicted, and one has not been charged with a crime.)
Meanwhile, swindling any person or organization is a terrible thing but scamming a kids’ cancer charity and a nonprofit organization that helps wounded military veterans seems much worse. And that was precisely what a former Northwestern Mutual Investment Services broker-advisor and a barred advisor allegedly did.
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 them out in the gallery above.
Check out the gallery above to see our selections as the top 10 worst financial advisors in the U.S. this year.