Financial Professionals are like any profession – there are good ones and there are bad ones. As long as financial advisors are compensated by commissions, some of the unscrupulous ones will continue to attempt to enrich themselves by excessively trading accounts. Broker Churning is excessive trading by a broker in a client’s account largely to generate commissions. Churning claims arise out of the inherent conflict of interest involved when a financial advisor is compensated by commissions earned in buying and selling securities on behalf of a client.
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