How To Fire Your Client

"Clients are always right." I wish. Sometimes, it pays to send them packing. It's a question of when to do it and how. "You're fired," may work on reality television, but it's a bad choice of language for wealth managers. Word gets...

Honey and the Goodfellas

It was just another day the first time I bumped into the mob. Just another day in a calm suburban bubble, where the gentle summer breezes whispered through leafy elms, “We’re safe here.” Our village was a mile-and-a-half square, a small tangle of...

What the Lawyers Won’t Tell You

Here's a link to my recent column in the Wall Street Journal. I had spotted three union members striking outside a restaurant on 52nd Street, making a fierce racket. I asked them to drive their 12-foot inflatable rat to my old shop and chant the name of one...

Club Madoff

The Club No One Wanted To Join-Madoff Victims In Their Own Words Twenty-nine Madoff victims have banded together to tell their stories. Their book is appropriately entitled: The Club No Wanted to Join—Madoff Victims in Their Own Words. My copy has not shipped yet. So...

Stockbrokers—Three Steps To Build Trust*

Hint: Lose The Jargon About Fiduciaries Congress and the usual suspects, according to The New York Times, are debating legislation that requires stockbrokers to act in their customers’ best interests. Excuse me? These laws don’t exist? At issue are legal standards:...