Quotes - WHAT THE BROKERAGE INDUSTRY HAS SAID ABOUT THE BOOK "BROKERAGE FRAUD"

Complinet, a nationally recognized website dedicated to helping and educating the compliance and legal professions within the securities and brokerage industry. The Editor Paul Taylor published the following on the firm's web site on November 2, 2001.
"However, this is no piece of fiction, because the authors have seen some of the uglier aspects of the retail brokerage industry. Thankfully, the book isn't simply a list of bad apples. Most of the commentary is thematic, well summarized, and responsible. Some of the most valuable commentary addresses structural problems with the industry, such as commissions leading to churning, and sales targets making a mess of suitability. There are sections of the book devoted to nearly every aspect of retail brokerage, from Annuities to Wrap Accounts and from Arbitration to Margin Sellouts. In spite of BF's "hard-edged" tone, it really is a cookbook for a clean retail brokerage. In the Chapter, "Selecting and Evaluating a Stockbroker," Schulz and Stoneman even offer a list of traits for a good broker, and another list of what clients should expect of a good broker. If nothing else, you should copy these pages and forward them to the broker"

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"This book is a timely wake-up call to the brokerage industry to clean up its ways. Honest brokers have nothing to fear from this book." -George D. Mullen, Vice President, UBS PaineWebber

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"Tracy Stoneman and Douglas Schulz certainly know what Wall Street brokerage firms wish you didn't. Even if the largest, most reputable firms are managing your money - and especially if you're working with a firm no one ever heard of - you owe it to yourself and your family to take the authors' advice."
-Evan Cooper, Editor-in-Chief, On Wall Street.

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Tracy was quoted in the October 2000 issue of Registered Representative Magazine in the article "Skid-Proofing - Lawyers Describe Five Stumbling Blocks that Trip up Brokers and Make Defending Claims Difficult"

"One of the most common yet avoidable pitfalls a broker falls into is inconsistent or missing information on the opening account documents,' says Tracy Pride Stoneman, a Colorado Springs, Colo., securities attorney. Stoneman challenges brokers to ensure these forms are complete and consistent. The information must be updated as clients' income and net worth grow, they become more sophisticated, and their investment objectives change."

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Call or email Ms. Stoneman with your comments or questions. The strictest confidence will be observed.

- Stoneman Law Offices - Texas & Colorado. (719) 783-0303 Free Consultation - Representing Clients Nationwide