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Legal Issues

by Joseph Weisenthal


Filed Under:
ratings



How Long Before Financial Advisors Rating Site Gets Sued?

from the the-rating-game dept

Back in June, the launch of Avvo, a site for rating lawyers, was met with a lot of controversy. Lawyers aren't used to being rated as if they were any other good on the market, and it didn't take long before the site was sued by one lawyer unhappy with his ranking. Now a similar site is getting set to launch, except this time it will focus on financial advisors, another group which isn't used to much scrutiny. It's not clear whether or not this will prove particularly useful, but hopefully the site has some money socked away for legal fees, since it's only a matter of time before one disgruntled advisor sues after a bad rating.

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  1. identicon
    Paul, 7 Sep 2007 @ 10:45am

    Re:

    You bet:
    "the raw returns of equally weighted mutual funds (net of all expenses) for 1996 to 2002 were 6.626% for the investors working on their own and were 2.924% for funds provided by advisors."

    http://advisor.morningstar.com/articles/doc.asp?s=1&docId=4482&pgNo=0

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