Widower’s Mayfair woe spotlights ‘wholesale investor’ tag
A widower caring for three young children says Mayfair 101 took his $500,000 and reassured him not to worry despite telling the investment outfit he had no idea what a critical “wholesale investor” term meant.
The testimony from Robert Charadia is the latest insight to cast light on the issue of wholesale or sophisticated investors, who receive fewer protections and less information than everyday retail investors in product offerings.
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