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Tips to Avoid Getting Scammed by a Social Enterprise

Posted by Joe Trifiletti on 11/22/19 4:10 PM

 

Editor's Note: This is the third and final post in a series for International Fraud Awareness Week, November 17-23. Fraud is one of the most serious issues clients deal with today. We hope that through this series, Financial Advisors gain a deeper awareness of the types of fraud their clients face and an understanding of how to help spot it before any damage is done.

TL;DR Summary:

  • Social Enterprise Fraud undermines the reputation of the Financial Institutions and Advisors who offer unique opportunities for clients to have impact with their investments.
  • There are 5 common types of Social Enterprise Fraud that investors need to be aware of: illegitimate enterprises, corruption, charity fraud, identity theft, and phishing.
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Topics: Financial Advising, Financial Fraud

Robocall Scammers are Targeting Asian Americans at Accelerated Rates

Posted by Joe Trifiletti on 11/18/19 2:49 PM

Editor’s Note: This is the first post in a series of blogs for International Fraud Awareness Week, November 17-23. Fraud is one of the most serious issues clients deal with today. We hope that through this series, Financial Advisors gain a deeper awareness of the types of fraud their clients face and an understanding of how to help spot it before any damage is done.

TL;DR Summary:

· Asian Americans have become good targets for fraud. Their inclination towards loss aversion and fears related to immigration issues are a few reasons why scammers are targeting this population.

· Illegal Robocalls are a major issue being investigated by the FCC and the FBI.

· Robocalls have caused severe financial loss amongst Chinese Americans specifically with a reported loss of $164,000 on average per incident according to FBI’s Internet Crime Complaint Center.

· Financial Advisors can help their clients save thousands of dollars from four handy tips on how to spot Robocall fraud.

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Topics: Financial Advising, Financial Fraud

Advisor Spotlight: Brian Ginty

Posted by Jeso O'Neill, Director of Communications on 11/5/19 1:40 PM

 

Each month Vanderbilt Financial Group features an Advisor in the Vanderbilt family who exhibits the VFG values of Gratitude, Respect, Innovation, Teamwork and Trust on a consistent basis. These values impact their work with clients and VFG staff, and ultimately pushes for an excellence in their business practices that is unparalleled and incredibly unique. Beyond high-level producers, these Advisors offer sage advice and best practices for boosting your business on your terms according to your values.  

This month I spoke to Brian Ginty of Hudson Valley Financial Services. We chatted about the transformation of technology on the trading desk. Brian laid out some sage pieces of advice for young Financial Advisors just building up their book. 

Listen in on the audio version below or continue on to read the transcript.

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Topics: Financial Advising, Independent Financial Advisor, The Advisor Spotlight

How to Help your Clients Navigate Student Loan Servicers

Posted by Moira Do on 10/15/19 8:45 AM

 

Federal Student Loan Debt is a major issue that affects 43 million adult Americans. Many of them, like borrower Nicole Nelson, a native of Illinois, sought the advice of her loan servicer, Great Lakes Educational Loan Services. In a recent article by MarketWatch, the company allegedly deceived her by steering her towards repayment plans that benefit them, not her.

On June 2019, the federal appellate court unanimously decided that a loan servicer could not allegedly and deliberately misrepresent repayment options and use federal laws to shield the servicer from state rules barring deceptive business practices. The case highlights how the Education Department rarely holds servicers accountable. Due to these weak state consumer-protection laws in student-loan litigation, clients might end up with costly repayment options.

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Topics: Financial Advising, College Debt, Student Loan, Back to School

The One Little Guest Blog That Lit My Business On Fire

Posted by Sara Grillo on 10/3/17 11:34 AM

Appearing as a guest writer on someone else’s blog wasn’t something I took that seriously until a recent successful guest posting blew up my business. Here are the steps I took to get surprisingly viral results.

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Topics: Financial Advising, Blogging

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