Spoiler alert: The villains in my novels all come from Yale. But my column in today’s WSJ is non-fiction…and it sure was fun to hear these wealth-management stories from Joe McNay, a great guy and non-villain from Yale’s class of 1956. Among other things, he describes what it was like to manage money for Bill and Hillary Clinton…read more
The vibe is celebratory. There are coffee, doughnuts and croissants on the side table, smiles all around the conference room. On behalf of your team, which could be inside a brokerage firm or a registered investment adviser, you push paperwork across the table to open an advisory account. Smiling, your soon-to-be client pulls out a pen and scans one of the forms. But he hesitates, and his brow furrows…read more
An obligation to put clients’ interests first doesn’t guarantee that financial advisers will do the right thing
Years ago, my team left a large brokerage firm for the greener pastures of a fee-only registered investment adviser. While soliciting a client to follow, I explained that RIAs are fiduciaries, obligated to put the interests of their clients first.read more
The New York Times describes my novels as “money porn,” “a red-hot franchise,” and “glittery thrillers about fiscal malfeasance.” Through fiction I explore the dark side of money and the motivations of those who have it, want more, and will steamroll anybody who gets in their way.