Singing the stockbroker blues. (investors who lose money through stock brokerage firms; includes examination of one woman's experience with a Dean Witter Reynolds Inc. investment retirement account; includes tips on disputing a broker's performance)

From: Kiplinger's Personal Finance Magazine | Date: June 1, 1993| Author: | Copyright information

Three of the biggest problems that cause a loss in investments are poor investment partnerships, a risky portfolio and stockbroker churning. Brokerage firms like to defend themselves by showing the gains from dividends, even if they do not exceed capital losses.

I

The Customer's Story

Dorothy Moody had never owned a stock or a bond before she walked into Dean Witter's offices that December day more than nine years ago. Her son, David Mikle, introduced her to Steve (not his real name), who was his broker, and she filled Steve in on her background. Aside from the pension ...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and trade journal articles from HighBeam Research

(Including press releases, facts, information, and biographies)

DEAN WITTER BROKER ADMITS THEFT, GETS SUSPENDED TERM
; ...A former account executive for...Braintree branch of Dean Witter Reynolds yesterday...and reimburse Dean Witter, which covered...the client's account. Maloney received...restitution to Dean Witter, which reimbursed Keough's account after the theft...
WHAT NOW, DEAN WITTER? BOSTON BROKERAGE THAT STUMBLED FINDS ITSELF ENMESHED IN PROBES
; ...But what happened to Dean Witter here is more than a...market. And certainly Dean Witter isn't alone in its missteps...during the last year Dean Witter Boston's problems have...office out of control." Dean Witter executives don't accept...securities sale was outside ...
EX-DEAN WITTER BROKER CHARGED WITH THEFT
; DEDHAM - A former account executive for the Braintree branch of Dean Witter Reynolds has been...who resigned from Dean Witter in August 1987...manipulated three accounts he managed, two...D. Delahunt said Dean Witter contacted his office...reimburse Keough's ...
Dean Witter's Visa Venture Is Overturned by Court; Distributor of Discover Card Had Sought the Right to Issue Widely Used Credit Card
; ...Sherman Antitrust Act in refusing to allow Dean Witter to become a Visa member and issue cards. Visa...decision as a "victory for consumers," while Dean Witter called it "contrary to the antitrust laws...relationships built by Visa over the years. It accused Dean Witter of wanting to ...
Dean Witter Reynolds Revises Sales Practices; Some Broker Bonuses, Fees to Be Eliminated
; ...professionalism. We need to abolish all contests." Dean Witter spokesman Timothy Lee said the firm has eliminated...sponsor contests that encourage the sale of Dean Witter mutual funds and other selected investments. With its announcement, Dean Witter joins some other Wall Street ...
NationsBank-Dean Witter Plan Is a Pairing of Opposites
; ...out anymore. Witness the decision by Dean Witter Financial Services Group Inc. and NationsBank...mutual funds and other investments. Dean Witter and NationsBank will become equal partners...will be staffed by 200 brokers from Dean Witter and by 200 brokers who already work...
Printy accepts investment ban imposed by SEC; Agreement settles civil charges over dispute with Dean Witter.(BUSINESS)
; ...Before that, the account was valued at about $200,000 by Dean Witter in late 1992...loaned to him by Dean Witter from the so-called margin account. Margin loans...balance in the account of nearly $600...March 1993, Dean Witter started the...
INVESTORS SUE DEAN WITTER OVER LIMITED PARTNERSHIPS.(BUSINESS)
; ...Associated Press A group of investors sued Dean Witter Reynolds Inc. for $300 million Monday...early 1990s by buying $1.2 billion in Dean Witter limited partnerships that invested in...plaintiffs who bought investments from a Dean Witter broker in Santa Monica, said Melvin...
Dean Witter, Discover Spinoff Smells Sweet to Shareholders
; ...The figurative garden comes in the form of Dean Witter stock, which sold for $27 when 20 percent of...stock went to Sears stockholders, who got 40 Dean Witter shares for every 100 Sears shares they owned. Dean Witter closed Friday at $39, a jump of 44 percent...been very favorable ...
$300 million lawsuit hits Dean Witter
; NEW YORK Dean Witter Reynolds Inc. faces a $300 million...early 1990s by buying $1.2 billion in Dean Witter limited partnerships that invested...financial securities. Timothy Lee, a Dean Witter spokesman, said the firm does not...