Investors continue to be willing to trust their life savings with fraudsters, even years after Bernie Madoff stole nearly $65 billion from some of the richest people in the United States. According to Kathy Phelps, author of The Ponzi Scheme blog and the book Ponzi-Proof Your Investments, there are a dozen or more people or groups charged with Ponzi schemes every month. ... Ally Invest Eyes Millennials Last April, Ally Financial Inc. paid $275 million to acquire TradeKing, hoping to resonate with and court younger investors. With the official completion of TradeKing’s integration and acquisition this week, they are set to “make a splash in self-directed online trading, particularly with millennials.” ... HD Vest Offering Tax Services With Drake Broker/dealer HD Vest Financial Services recently announced that its financial advisor support model will now be available to Drake Software's tax software users. HD Vest aims to optimize their client services ahead of the upcoming tax season with professional tax software provider Drake. ...
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