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Money in Your Pocket: 1/5/21

Money In Your Pocket

Posted: Jan 5, 2021 / 07:14 AM EST / Updated: Jan 5, 2021 / 07:14 AM EST

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More Money In Your Pocket Stories

Money In Your Pocket: A Risky Rising Fad in Stocks 1/22/21

(WSYR-TV) -- Trading in penny stocks, stocks that trade for less than a dollar, has increasingly become a trend. Mainly because many brokerage houses have stopped charging trading fees on stocks. And when I say taking off...well look at this chart.

This chart goes back to January of 2019 and you can see, on the far left, the volume of monthly trading in penny stocks. As 2020 progresses, there's a slight uptick in February, and then varies throughout the rest of the year...until December. There was a huge volume of penny stocks being traded.

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Money In Your Pocket: Warning signs when hiring a financial advisor 1/21/21

(WSYR-TV) -- By and large, the vast majority of financial advisors are very honest people that genuinely want to help. But, like everything, there are some bad apples out there. So here are some things to look for when making the decision to work with a financial advisor.

First and foremost, you can look up the disciplinary record of any advisory by going to the FINRA website or the SCC website. Input the name of the advisor and it lets you know if they have had any complaints or disciplinary action taken against them. If you see even one complaint, I'd be careful. But certainly multiple complaints where there is money paid out, I'd steer clear.

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Money in Your Pocket: 1/20/21

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