Study: Collier and Lee stockbrokers among nation’s worst

LEE COUNTY, Fla.- Do you know who’s in charge of your money?

A recent report by the Wall Street Journal says Lee and Collier Counties are two of the worst places in the nation for unscrupulous stockbrokers.

The study revealed that four of the nation’s top five places where brokers have been cited for multiple violations are located in Florida.

The journal studied 550,000 brokers. According to the study, locations wwith a large concentration of wealthy seniors are a common place to find victims.

“The fundamental problem is simple, the people that do this get away with it and when they’re caught, there’s almost no penalty,” said attorney Robert Henderson.

The Financial Industry Regulatory Authority (FINRA), a watchdog agency, says the website Brokercheck is one tool investors can use to research the professional backgrounds of brokers.