MCS Associates is a nationally recognized consulting group that has provided financial, operations and regulatory/compliance consulting services nationwide to financial institutions, insurance companies and regulatory agencies as well as real estate and financial services organizations for over 40 years. Expert Witness and Litigation Consulting are a primary focus of our services. We undertake expert witness assignments throughout the United States and our clients include several hundred leading law firms around the country, working on behalf of both plaintiff and defendant financial institutions, borrowers, depositors, investors, developers, insurance companies and their insured, securities/insurance/real estate brokers/agents, regulators and government agencies, and individuals.
Together with MCS Associates’ specialized resources in banking, financial services and real estate, we also draw on key strategic alliances in insurance, economics, academia and the securities industry to meet a wide range of expert witness needs. Our litigation experts include experienced bankers, lenders, consultants, regulators, managers, brokers & agents in insurance, real estate, and securities; insurance claims and underwriting managers; economists, accountants, appraisers, real estate analysts, and academics.
Barrington Capital Management, Inc. provides customized financial solutions for unique financial challenges and objectives. Their expertise is in the development, implementation and ongoing management of a customized and diversified investment strategy. Barrington's mission is to assist in building, enhancing, and protecting personal wealth and maintaining financial security.
President and Chief Executive Officer, Bob Lawson, has over 35 years of financial services experience as an Investment Advisory and Insurance Agency Executive, Securities Principal, and Options Principal. Bob proudly serves as an industry arbitrator for the Financial Industry Regulatory Authority (FINRA) and the National Futures Association (NFA), a Certified Fraud Examiner (CFE), ERISA (3)-21 Fiduciary, Master Registered Financial Consultant, and an Accredited Investment Fiduciary. In addition to teaching advanced investment strategies and Retirement Planning classes throughout the year.
Bob Lawson has special expertise in stock options and has presented the following Options Industry Council (OIC) seminars to retail and industry professionals throughout the United States:
In the securities brokerage industry, "selling-away" refers to the prohibited practice of an Associated Person effecting or soliciting the sale of securities or investment products not held or approved with whom the broker is affiliated without prior written consent. FINRA regulators have seen a steady flow of selling-away cases over the years involving registered representatives who are being targeted by issuers, promoters and marketing agents to sell their nontraditional investment products to their retail customers. In many instances, promoters of these products are marketing them as non-securities products that do not have to be sold through a broker-dealer by a registered person. In a significant number of cases, associated persons have sold these investments to their customers away from the broker-dealer and without firm approval as required by FINRA Rule 3270. Selling-away often occurs in an independent branch or a satellite office, where Associated Persons are removed from the day-to-day oversight and supervision of their brokerage firm's compliance department.
I receive phone calls throughout the year from attorneys who have taken on their first FINRA case and they frequently are unaware how the FINRA Dispute Resolution process differs from other venues. I thought it would be helpful to provide a quick overview for new participants and a refresher for those more experienced securities attorneys on how the FINRA Arbitration and Mediation process works.
In FINRA-related cases many attorneys see discovery requests objected to by opposing counsel. Typically, opposing counsel objects to discovery requests citing that items requested are either "overly broad, vague, or ambiguous", or "impermissible per FINRA's Code of Arbitration Procedure". However, despite opposing counsel's reasoning, many objections to discovery requests are irrelevant and do not hold up in regard to FINRA's Code of Arbitration Procedure. Attorneys should not be intimidated or discouraged by these objections, but rather should understand that FINRA's guidelines concerning arbitration allow for most applicable and reasonably obtainable discovery information to be delivered.
Bedford and Main Financial Consulting provides services primarily catering to the Broker-Dealer and Registered Investment Advisor communities. Founded in 2012, our fundamental areas of expertise are: Operations, Compliance, and Management. Our core services focus on traditional consulting projects, anti-money laundering (AML) testing and compliance, and expert witness litigation and testimony.
Bedford and Main is listed in the FINRA Compliance Vendor Directory
We enjoy supporting broker-dealers of all shapes and sizes. Our client list includes introducing brokers, correspondent clearing brokers, clearing firms. prop trading firms, Fintech brokers and new broker-dealer start-ups. Our testimonial page speaks for itself: www.BedfordandMain.com/testimonials.
Operations and Compliance Expertise: Our experience is both deeply rooted, yet freshly relevant. With 40 years of hands-on senior experience, our management has been actively building, growing and restructuring broker-dealers. While based in the metropolitan Philadelphia area, Bedford and Main's client base is global. Our “bread and butter” Operations expertise focuses on conversions and project management. While on the Compliance side, we specialize in areas related to Supervision, Anti-Money Laundering, and Acceptance, Waiver and Consent (AWC) settlements.
Bedford and Main is a supporter of SIFMA and the Financial Services Institute.
Broker-dealer Start-ups – FINRA New Membership Application Process (NMA)
Selling “Shell” Firms and other Mergers & Acquisitions Activity
Our clients appreciate how valuable it is to work with a consultant who has held Series 3, 7, 24, 27 and 63 licenses, and is a FINRA Dispute Resolution Arbitrator and a Certified Anti-Money Laundering Specialist (CAMS). Moreover, the insights we provide resulting from our securities expert witness engagements often prove invaluable.
As a consulting firm that focuses on broker-dealers (B-Ds), we often have discussions with clients, particularly new start-up firms, who are looking to understand the big picture of what makes up the industry. This paper will attempt to expand on some of the particular points noted by FINRA and to provide more color on industry trends related to the makeup, business models, and structure of the current broker-dealer environment.
Centennial Advisory Group is a boutique consulting firm specializing in Investment Management and Financial Services. They are a member of the Professional Association of Resume Writers and Career Coaches and hold the Certified Professional Resume Writer designation. Their goal is to enhance the career success and earnings potential of investment industry executives.
Career Path Advisory
Frank Carr is a Certified Professional Resume Writer, a former Hedge Fund Chief Financial Officer, a Corporate Banker, and a 20-year executive search veteran for the Financial Services and Investment Management industries. Mr. Carr has advised thousands of junior, mid-level and senior executives on how to position and maximize their careers within the financial world. With over 4,800 investment industry connections on Linked In, his reach throughout the financial services world is extensive. He has written articles for and has been frequently quoted by publications such as Bloomberg News, CNN Money, Fund Fire, Ignites, Absolute Return, Hedge Fund Alert, and Hedge Fund Manager Week. Prior to forming Centennial, Mr. Carr had been a Managing Director in the Global Asset Management practice at A.T. Kearney Executive Search, a top 10 U.S. search firm. He began his search career at LAI Ward Howell which was later acquired by TMP Worldwide (owners of Monster.com).
Prior to entering executive search, Mr. Carr was Chief Financial Officer of a Connecticut-based equity long-short hedge fund. He managed investor relations, accounting, and compliance, including registration with the Commodity Futures Trading Commission. Frank had spent eight years in commercial bank lending, initially with Citibank in their Wall Street Commodities division and later was a banker to the feature film and TV industries.
Errold Moody, PhD, MSFP, LLB, has over 50 years of experience analyzing Personal Financial Issues, including literally all elements impacting an individual. His current website, Financial and Economic Daily Commentary 2021, has been hailed by USA Today as, "...a high-powered personal bookmark list that spans the spectrum of the truly useful," and Forbes as a site, "...to find some great information."
Consulting Services - Dr. Moody's is a consultant on various issues in the areas of Real Estate, Stocks, Bonds, Limited Partnerships, Divorce, Taxes, Estate Planning, Retirement Planning, Ethics, Social Security, Medicare, and Behavioral Economics. His major focus for the last decade has been in the research and development of real life processes and documentation to lower risk in investing. In recessionary economies, losses would be about 12% to 15% (S&P 5000) versus 49% in 2000 and 57% in 2008. Investors must be told their Risk of Loss prior to utilizing any investment allocations and to be told by the firm/agent what will be done to mitigate the potential losses.
Dr. Moody cautions novices against attempts by Planners, Brokerage Firms, Advisors, Analysts, State securities and insurance offices, ERISA, Consumer Federation Protection Bureau, SEC, FINRA, Department of Labor, Consumer groups (AARP, Consumer Federation of America) 401k plans, and general instruction, to clearly define theElement of Investment and Insurance Risk.
This article asserts that investor problems are caused primarily by one major issue - lack of knowledge. Knowledge is woefully nonexistent at all levels in American financing, investing, and retirement planning. This article examines the various recent systemic failures that demonstrate how lack of knowledge, along with forces and incentives, continue to promote system failure despite its grievous impact on individuals, especially the elderly who
What’s the issue? The inverted yield curve. The great injustice to all is that this fact was known by (apparently) just a few due to poor initial licensing instruction/knowledge as defined by the SEC/FINRA (where there is nothing on how to use a financial calculator) and inadequate continuing education by the planning organizations (CFA, CFP, ChFC, CPA et al;) overseeing their memberships. (And it made little inroads with my students in 1999.
There really ain’t none. You are going to find that most texts actually do not address risk properly. This is the type of graph in instruction and it can include other sub categories. But no matter how one wishes to use one type versus another, what one is really concerned about in bottom line of investing is: How Much Can You Lose
Arbitration cases submitted to the NASD generally cover the issues of negligence, breach of contract, breach of fiduciary duty, unsuitability, failure to supervise and misrepresentation. For most purposes, they all tend to say the same thing- a failure to gauge risk
From showing readers how to find advisers they can trust to dispelling myths about asset allocation, dollar-cost averaging, and more, No-Nonsense Finance is the ideal financial reference. Readers will enjoy, and profit from, Moody's irascible, often irrev
Daniel Reser has been a Corporate Fiduciary for corporate securities and reorganization transactions as well as Trustee and Custodian of Retirement Plans for over 25 years. Mr. Reser is considered a highly effective and capable trust fiduciary due to his legal training, his extensive experience as a fiduciary for corporate reorganizations and retirement plans as well as his reputation for ethical business practices and pragmatic management style.
Prior to his role at Fiduciary Services, Inc., he served as Vice President and Manager for Wilmington Trust based in Santa Monica, CA, also of Bank of America, and Security Pacific Bank. Mr. Reser also has a JD from Southern Methodist University. In 1989, he graduated from the UCLA John Anderson Graduate School of Management Executive Program. During his career, Mr. Reser has administered and managed a wide variety of Governmental, Corporate and Union Retirement Plans as plan trustee. His current role as principal of an investment advisory firm includes acting as Fiduciary for Company Stock in Retirement Plans including ESOPs.
Independent Fiduciary Consulting Transactions:
Mergers and Acquisitions
Restructuring of Capital and/or Debt of the Company
Leveraged, Un-Leveraged and Multi-Investor ESOP Buy-Outs
Fiduciary Roles and Responsibilities:
Determine Fair Market Value of a Company's Shares
Evaluate Transactions from a Financial Point of View
Advise the Fiduciary During Negotiations and Structuring of Transactions
Render Necessary Opinions of Fair Market Value and Fairness and Provide Suitable Documentation
Financial Management Consulting Group is an affiliation of well-experienced consultants serving banking interests throughout the country. Our years of experience, as bankers, as bank consultants, and as regulators provide valuable insight into case matters. We can assist both from the industry perspective and from the regulatory perspective, offering a comprehensive assessment and well supported opinion. We have qualified as experts in numerous State and Federal jurisdictions, and on numerous banking related matters. We are dedicated to providing clients with quality, results-oriented service.
Craig A. Wolson acts as a Structured Finance and Derivatives Expert Witness and Consultant. He specializes in cases involving credit default swaps (CDS), collateralized debt obligations (CDOs), mortgage-backed securities (MBS) and other types of derivatives and securities.
Background Experience Includes: Acting on behalf of 40,000 investors in $1.6 billion class action suit against bankrupt sponsor of special purpose issuer of notes secured by notes issued by CDO and credit default swaps with sponsor; acting on behalf of class led by two major pension funds against a major bank and numerous large underwriters involving mortgage-backed securities issued by several vehices established by the bank, and securities issued by the bank; acting on behalf of large investment bank defendant in arbitration proceeding brought by another large investment bank involving nine CDOS established by defendant; acting on behalf of large bank that had invested in now-worthless notes issued by SIV established by defendant banks; acting on behalf of large bank against another large bank that had sold the former CDOs and CDS.